Textile industry will gain from changing consumption patterns of aspirational Indian youth: Sh. Goyal
Need strengthening of local textile supply chains to achieve $100 bn exports by 2030: Sh. Goyal
NEW DELHI Union Minister of Textiles, Consumer Affairs, Food and Public Distribution, and Commerce & Industry, Shri Piyush Goyal said that the global textile expo is the largest integrated textile event organised for the first time ever in the country that embodies Prime Minister Shri Narendra Modi’s vision of 5F —- farm to fibre, fibre to factory, factory to fashion and fashion to foreign markets, covering the entire textile value chain. He added that local supply chains need to be strengthened and greater emphasis is required for 3S – skill, speed and scale, to fulfil the vision of a ‘Viksit Bharat’. Shri Goyal noted that robust supply chains will enable India to achieve a production target of $250 billion along with exports worth $100 billion by 2030.
Shri Goyal said that the expo has been able to put together and showcase the entire value chain of the textile industry on a global platform and that this will reaffirm India’s position as a global textile powerhouse. The event establishes India as an attractive investment and sourcing destination, he added. He hailed the Prime Minister for not only rallying the nation to support local products through his ‘vocal for local’ mantra but also encouraging them to take the ‘local for global’ initiative.
The Minister said that the government through its various initiatives – PM MITRA, Production-Linked Incentive (PLI) scheme, Samarth (Scheme for Capacity Building in Textiles Sector) and National Technical Textiles Mission has provided a huge fillip to the textile industry under the leadership of the Prime Minister. He further said that the textile ministry has formed a new textile advisory group to create an end-to-end connectivity for the cotton and man-made fibre industry that will help maintain balance and create a better synergy in the textile sector.
Shri Goyal noted that millions of Indians have escaped multi-dimensional poverty and consumption in both rural and urban areas is on the rise. The Minister said today the textile industry can gain from the changing consumption patterns of the aspirational young India that have shown preference for spending on other products due to the government’s continuous efforts to keep food inflation in check.
Union Minister of State for Textiles, Smt. Darshana Jardosh and Textile Secretary, Smt. Rachna Shah was also present on the occasion.
