New Delhi: Union Commerce Minister Piyush Goyal said on Friday that the time has come to aim for a five-fold increase in technical textile exports in the next three years. In Delhi, the minister was speaking with members of the Indian Technical Textile Association (ITTA).

He said that the Centre would support PLIs for the textile sector in states that support the development and provide affordable infrastructure for textile manufacturing, such as cheap land and power.

Goyal went on to say that the best textile manufacturing standards should be followed so that there is no difference in the quality of textiles intended for international and domestic consumers. The Minister proposed a public-private partnership in the use of government funds for technical textile research and development.

The minister further said that, in addition to statistical growth, growth will be directed toward high technology and indigenously innovated products. He went on to say that, in order to achieve these goals, the government launched the National Technical Textiles Mission in February 2020, with the goal of making India a self-sufficient, vibrant, export-oriented economy. He went on to say that the trade balance had been negative in the previous two years (-Rs 2,788 crore in 2018-19 and -Rs 1,366 crore in 2019-20), but had turned positive in 2020-21 with Rs 1,767 crore.

India to take Tit for tat action if India faces unfair trade barriers: Goyal

Economy Boost: India has reduced fuel taxes ahead of the festive season

Almost 80-pc of economy now formal following covid digitisation drive: Report