New Delhi: The textile industry must aim to increase exports three times to $ 100 billion from $ 33 billion immediately, trade & industry and the Textile Minister Piyush Goyal said on Friday.
He said collective determination must reach the export target of $ 44 billion in FY22 for textiles and clothing, including handicrafts.
Goyal said that production incentive schemes for Textiles and Mitra Park schemes are at the stage of advanced approval.
He also said the production associated with the incentive scheme for technical textiles and man-made fiber segments will soon be approved by the Union cabinet, a step that will provide encouragement for domestic creation and export.
The Mega Investment Investment Taman Investment Scheme (Partner) proposed, where the seven parks will be established in this country for the next three years, at the forward advanced stage, the minister told reporters here.
This scheme was announced in the Union 2021-22 budget.
“It is happy that the textile sector has been involved with the idea of ​​achieving a larger target.
We must aim for the $ 100 billion export target in the next five years,” he said.
In the free trade agreement, he said India interacted with various countries to speed up FTA or PTA (preferential trade agreements).
This involvement has been sustainable with Britain, EU, UAE, Australia, among others.