Time to weave a success story around textiles exports: Modi
Prime Minister Narendra Modi on Friday said the time is right for India to focus on textiles exports in a big way, and urged states to take steps to promote clothing diversity in the global market. "I think, the time has now come for us to concentrate on textiles exports in a big way. India is a country with diverse culture, fashion and traditions. This diversity is clearly reflected in the (variety of) clothing culture pres
He was speaking after inaugurating the `Textiles India 2017' seminar at Mahatma Mandir here. "We should catalogue and map our clothing diversity and clearly earmark strengths and specialities of each state or region. Each state should appoint nodal officers dedicated to a few well-known products, who would facilitate producers and traders across the value chain," Modi said.
He said the intervention should start from production level right through to the export of garments and should meet specific requirements of domestic as well as export markets. "We should formulate an action plan to study and map the requirements of people in large global markets and monitor new trends in fashion and textiles in these areas on a real time basis," the prime minister said.
He stressed on innovation and research in textiles for the industry to grow and tap new markets. The NDA government has taken several steps to boost textiles industry, which is the second largest employment generating sector after agriculture. "Ours is a nation of aspirational youth, who wish to spend on textiles, apparel, and handcrafted lifestyle products," Modi said.
"The domestic market for apparel and lifestyle products, currently estimated at USD 85 billion, is expected to reach USD 160 billion by 2025. This growth will be driven by the rising middle class," he said. He also said that the government's industry-friendly initiatives like repealing of 1,200 "outdated laws" and carrying out 7,000 reforms have resulted in India becoming a preferred investment destination.