Textiles minister Smriti Irani has said that industry should resolve to ensure that India is not a nation of job workers but a leader in the textiles sector. Observing that India has been satisfied with just 10 big textiles companies for long, the minister said that the time has come now for 100 new companies to spring up.
Textiles minister Smriti Irani has said that industry should resolve to ensure that India is not a nation of job workers but a leader in the textiles sector. Observing that India has been satisfied with just 10 big textiles companies for long, the minister said that the time has come now for 100 new companies to spring up.
Speaking at a symposium on emerging opportunities for Indian textiles and crafts, Irani said that the time has come to focus on micro, small and medium enterprises (MSMEs). She said that the textiles ministry will get in touch with small scale manufacturers, who are meeting exports compliances and delivery schedules and support them with finance, legislation, certification, quality control programmes and research and development to make them leaders in their respective sphere.
The minister appealed to the textiles industry to fulfil the intention behind the Prime Minister’s announcement of abolition of anti-dumping duty on PTA (Purified Terephthalic Acid) and National Mission on Technical Textiles. Irani also asked the industry to meet the requirements of Jal Jivan Mission and farmers, apart from focusing on exports.
In the 2020 Budget, the government has proposed that in the larger public interest, anti-dumping duty on PTA is being abolished. “Chemicals are crucial feed stocks for downstream users. PTA, for example, is a critical input for textile fibres and yarns. Its easy availability at competitive prices is desirable to unlock immense potential in textile sector which is a significant employment generator. Therefore, in the larger public interest, anti-dumping duty on PTA is being abolished,” it was stated by finance minister Nirmala Sitharaman in Budget speech.
Indian textiles ministry to back small-scale firms.
The Indian textiles ministry will contact small-scale manufacturers meeting export requirements and delivery schedules to support them with finance, legislation, certification and quality control to make them lead in their respective sphere, textiles minister Smriti Irani told a symposium on emerging opportunities for Indian textiles and crafts in New Delhi.
Irani said there is a need to diversify India’s established opportunities instead of leaving the space for one export promotion council (EPC) or one segment. She stressed on augmenting domestic capabilities, according to an official press release.
She urged the industry to meet the requirements of Jal Jivan Mission and farmers, apart from focusing on exports.
Textiles secretary Ravi Capoor called on the industry to add up to its capacity and occupy the space vacated by China. China has vacated $20 billion dollar worth apparel space in the last three years and most of this has been in the man-made fibre sector, he added.
The symposium was attended by senior officers of the ministries of commerce & industry and textiles, representatives of EPCs, buying offices and buying agents.
