Textile sector should strive to reach 100 billion dollars in textile exports by 2030: Piyush Goyal
Efforts to reach 100 billion dollars in textile exports
Textile exports have been $ 43 billion in the last financial year, which was at the level of $ 33 billion in 2020-21, the government wants to increase this figure, for this steps have been taken for the textile industry in agreements with Australia and UAE Huh.
Due to being the leading sector in providing employment, the government textile sector (Textiles SectorThe textile sector has been given an important place in the recently concluded agreements with other countries. In view of these efforts, the government is expecting the sector to export textiles from the country.Textile Export) Try to more than double that to $10 billion in the next few years. Commerce and Industry Minister Piyush Goyal said on Tuesday that the country’s textile sector is growing at a fast pace and we should strive to reach 100 billion dollars in textile exports by 2030. Textile exports stood at $43 billion in the last financial year, up from $33 billion in 2020-21. Piyush Goyal ,Piyush Goyal He also holds the charge of the Ministry of Textiles.
Recent agreements will help
Piyush Goyal said that exports in the region will get a boost as the United Arab Emirates (UAE) and Australia will get zero duty access. India has entered into a trade agreement with these two countries. He said that India is also trying to achieve zero duty access to the markets of EU, Canada, UK and Gulf Cooperation Council (GCC) member countries. India is negotiating a free trade agreement with these countries. Goyal said, the current geo-political situation is changing and it provides huge opportunities for the industry to boost exports. The minister also stressed on the need to increase cotton production in the country as the price of cotton is high today. However, the government is making constant efforts to control cotton prices. He said that the cotton production in the country is 500 kg per hectare, which is only half of the global average. In such a situation, there is a need to increase cotton production in the country.
Cotton production estimates fall
The Cotton Association of India (CAI) on Saturday reduced the cotton production estimate for the 2021-22 season by eight lakh bales to 335.13 lakh bales, anticipating a fall in cotton production in Gujarat, Telangana, Maharashtra and Karnataka. Last week itself, CAI said in a statement that the total production during the crop year 2020-21 was 353 lakh bales. CAI has lowered the production estimate for Gujarat to 88.99 lakh bales, Telangana to 39.91 lakh bales, Maharashtra to 83.50 lakh bales and Karnataka to 21 lakh bales. Meanwhile, the total supply of cotton from October 2021 to March 2022 is estimated at 343.68 lakh bales, which includes arrival of 262.68 lakh bales, import of 6 lakh bales and opening stock of 7.5 million bales at the beginning of the season. Along with this, the Cotton Association has estimated the consumption of 175 lakh bales of cotton during October 2021 to March 2022, while the export consignment by March 31, 2022 is estimated to be 35 lakh bales.