News & Insights | Textile Industry

Piyush Goyal exhorts the textiles sector to work together in partnerships for R&D & innovation

Published: June 24, 2023

-By Pratyasha Sarkar

In order to jointly make bigger leaps in the textiles sector, Union Minister Piyush Goyal has
urged the industry to cooperate and partner for research and development and innovation.
On Tuesday, he presided over an industry interaction here on “Investment Opportunities in
the Textiles Industry under PM MITRA Scheme.”

A robust ecosystem for textile production is provided by Gujarat, Karnataka, MP, Maharashtra, Telangana, Tamil Nadu, and Uttar Pradesh, lauded the minister of textiles, commerce and industry, consumer affairs, food, and public distribution. With encouragement, he also acknowledged the sector’s eagerness to establish and grow enterprises in the upcoming Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) Parks.

He further urged the industrialists to reap the benefits of the extant Ministry of Textile schemes including the National Technical Textiles Mission and Scheme For Capacity Building In Textile Sector (Samarth).Keen on assisting the investors, who are looking forward to broaden their businesses, to start their Invest India desk in the Ministry of Textiles.

Emphasising that the production of value added products take place in the up and coming parks, the industry altercation revolved around the parameters of sustainability, establishing R&D centers, and introducing upcoming factories in the PM Mitra.

The scheme for setting up 7PM Mitra Parks, announced in the Union Budget for 2022 – 22, is inspired by the Prime Minister’s 5F vision(Farm to fibre; fibre to factory; factory to fashion; fashion to foreign)to stabilise India’s position on the Global textile map.

Aimed at reducing the cost of logistics in the industry, the PM Mitra scheme opens the door for having an Integrated Textiles Value Chain at the disposal under one roof, comprising every procedure from spinning to garment manufacturing. A lakh of direct employments, while two lakhs of indirect employments is also expected as a positive impact from each of the parks. These parks are planned to be built in areas where the textile industry may thrive naturally and will have the connections it needs to succeed.

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