India

Aim to increase textiles exports to $100 billion: Piyush Goyal tells exporters


Image Source : PTI/ REPRESENTATIONAL.

Aim to increase textiles exports to $100 billion: Piyush Goyal tells exporters.

 

India’s textile exporters must aim to increase exports to $100 billion at the earliest, Union Minister Piyush Goyal said on Friday.

In an interactive session with the country’s textile industry held here, the Union Minister for Commerce & Industry, Textiles, Consumer Affairs and Public Distribution said: “We must aim to increase textiles exports three times from present export value of $33 billion to $100 billion of textiles exports at the earliest.”

He asked exporters to achieve a target of $44 billion in exports of textiles and apparel, including handicrafts, for 2021-22.

He also called upon the industry to aim to increase domestic production to $250 billion, and that his ministry is working closely with the Finance Ministry to resolve the issue of old dues on incentives for exporters.

Goyal noted that India is showing signs of robust economic recovery as the Q1FY22 GDP grew by a phenomenal 20.1 per cent and 90 per cent growth was seen in total FDI inflow in the first three months of FY22 as compared to same period last year.

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