Union Minister Piyush Goyal said on Friday that India’s textile exporters must seek to expand their exports to $100 billion as soon as possible.
“We must aim to increase textiles exports three times from the current export value of $33 billion to $100 billion of textiles exports at the earliest,” said Union Minister for Commerce and Industry, Textiles, Consumer Affairs, and Public Distribution during an interaction session with the country’s textile industry held here.
He challenged exporters to meet a target of $44 billion in textile and apparel exports, including handicrafts, for 2021-22.
He also urged the industry to aim for $250 billion in domestic production, and he stated that his ministry is working closely with the Finance Ministry to settle the issue of past dues on export incentives.
Goyal stated that India is showing signs of a solid economic recovery, as Q1FY22 GDP increased by a whopping 20.1%, and total FDI inflows increased by 90% in the first three months of FY22 compared to the same period last year.
