Textile Industry has the potential to achieve USD 100 billion in exports by 2030: Piyush Goyal

The Union Minister of Commerce and Industry, Piyush Goyal on Tuesday said that new Economic Cooperation and Trade Agreements with Australia and UAE would open infinite opportunities for Textiles, Handloom, Footwear etc.

He said that Indian textile exports to Australia and UAE would now face zero duty and expressed confidence that soon Europe, Canada, UK, and GCC countries would also welcome Indian textile exports at zero duty.

Goyal was delivering the Keynote address at the Golden Jubilee Celebrations of the ‘Confederation of Indian Textile Industry- Cotton Development and Research Association’ (CITI- CDRA) in New Delhi today. The Vice President of India, M. Venkaiah Naidu was the chief guest at the celebration.

Goyal also said that Indian textile Industry has the potential to achieve USD 100 billion dollars in exports by 2030.

Reminiscing the monopoly enjoyed by India on manufacturing of various cotton textiles for about 3,000 years, the Minister said that the entire world sang praises of the superiority of Indian fabrics. By mid-17th century, Indian Calico and Chintz were superhits in Europe, he added.

The Minister also spoke of the Khadi ‘Charkha’ (spinning wheel) of Gandhiji which became a symbol of Swadeshi and resistance against British.

It may be noted that Indian Textile sector accounts for about 10% (approximately USD 43 billion) of India’s total merchandise exports. India is the largest producer of Cotton with 23% of global production, sustaining 65 lakh people directly and indirectly, the Minister said.

The Minister commented that modern Australian cotton growers were not just farmers but drone pilots, data analysts and agri-scientists. He said that we must augment the capacity of Indian farmers who are already very talented and capable, to make them experts in allied areas as well.

He called upon the nation to work together to achieve the 5F vision of Hon’ble PM for textiles – Farm to Fiber to Factory to Fashion to Foreign. The Minister also said that we must aim for global dominance in organic cotton. He urged the nation to be Vocal for Vocal and take Local to Global.