“We should take textile exports to $100 billion by 2030”: Piyush Goyal

June 20, 2022 written by

India is also trying to get zero-duty access in the markets of the European Union, Canada, and the UK member countries of the Gulf Cooperation Council (GCC).

Union Minister Piyush Goyal pitched for taking textiles exports of the country to USD 100 billion by 2030 as the sector is recording a healthy growth. The textiles minister also said the exports would get a boost as the sector would get zero-duty access in the UAE and Australia.

India has signed a trade pact with both these countries.

India is also trying to get zero-duty access to the markets of the European Union, Canada and the UK and the member countries of the Gulf Cooperation Council )GCC).

The textile exports last fiscal year stood at USD 43 billion USD against USD 33.0 billion in the previous year.

He added that the current geopolitical situation is changing and it provides huge opportunities for the industry to boost exports.

The minister further emphasizes the need to promote cotton production in the country as the current figure of about 500 kilograms per hectare which is half of the world’s average.

The price of cotton is high today and the Government is keeping constant control over that, he said adding there is a need to maintain the right balance so that farmers and the industry both get cotton at the right prices.

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