India would achieve $100 billion export target from textile sector by 2030: Piyush Goyal
Union minister Piyush Goyal has said that huge opportunities are there in the textiles segment and the country would achieve $100 billion export target from the sector by 2030. He said that free trade agreements will further help boost textile exports. The country's textile exports were at a record of $44.4 billion in 2021-22.
Goyal said ‘in the textiles sector, a margin of 4 per cent or 5 per cent is important to become competitive and in the free trade agreement we are insisting on duty free access for the industry’. The agreements will give a big boost to the sector. He said that the UK has a 9 per cent duty on different items and if that goes away it will give boost the industry. He also said India is negotiating an FTA with the UK. India has implemented similar pacts with the UAE and Australia.
On PM Mega Integrated Textile Region and Apparel (PM MITRA) parks, the minister said that 18 proposals have been received from different states. He said ‘we are at an advance stage of evaluating these proposals and we hope to finalise it in near future’.
