India`s FTAs with UK, US, EU to open new opportunities for Textiles sector: Pabitra Margherita
Minister of State for Textiles Pabitra Margherita has said that Free trade agreements (FTAs) with the US, UK and European Union (EU) will open new opportunities for the textiles sector in India. He stated ‘These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards, and compliance to seize these opportunities.’
Moreover, he said the country's textiles exports have crossed $34 billion, and it is aiming to reach $100 billion by 2030. He said the textile and apparel industry contributes 2.3 per cent to India's GDP, 13 per cent to industrial production, and 12 per cent to exports.
Besides, he highlighted the vital role played by man-made fibres (MMF) in driving India towards its ambitious target of reaching $100 billion in textile and apparel exports by 2030. He emphasised the strategic significance of MMF in keeping pace with the trends in global demand and enhancing India’s competitiveness in the world.
