Minister Piyush Goyal said – Textiles export business will be $100 billion in 5 years

Export Promotion Councils in India: The central government has expressed its intention regarding the export of textiles. In which a target of $100 billion has been kept in the next 5-6 years. Union Textiles Minister Piyush Goyal addressed the members of Export Promotion Councils through video conferencing on Thursday (27 October).

so targeted
Minister Piyush Goyal said that the intention is to increase the country’s textile exports to $100 billion in the next 5-6 years. On completion of this target, the total value of the textile industry will increase to $ 250 billion. In the financial year 2021-22, India’s textile industry exported about $ 42 billion.

Minister Goyal said that the manufacturers should start making efforts to ensure the availability of cotton to meet the demand. He also said that all the parties involved in the cotton industry also need to make concerted efforts to ensure the price of products made from cotton. He said that if this target of textile exports is achieved, then the total domestic and international market value of this industry together is expected to be $ 250 billion.

so much cotton production
According to the Agriculture Ministry data, the cotton production during the 2022-23 crop season is estimated to be 3.41 crore bales as against 31.12 crore bales a year ago. A lump weighs 170 kg. Cotton is sown in Kharif season and harvesting has started from October. Minister Goyal said that the funds available under the Textiles Mission should be used for new projects. The potential of the Indian textile sector should also be showcased during the G-20 meetings and events.

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