INDIA: India Aims To Be A Global Player In Textile Industry
THE main objective of the recently-announced National Textile Policy is to ensure 'optimisation' of production in the textiles sector and prepare the country for 2004 when the existing multi-fibre agreement governing the textile trade would cease to be operational, the Union Minister of State for Textiles, Mr V. Dhananjaya Kumar told the Hindu Business Line today.Speaking at a press conference Mr Kumar said the thrust of the new policy was to transform India into 'a major player in the world market' and to increase exports from $5bn to $50bn by 2010. The last national textile policy was formulated in 1995, and the new one, announced now five years later, would ensure that the textiles sector got 'a new lease of life', according to the minister.Elaborating on the various 'facilitating measures' incorporated in the new textile policy, Mr Kumar said the focus would be on increasing productivity in cotton, silk and jute apart from attempting to induce improvement in quality and reduction in prices in order to make domestic textiles competitive in the global market. The removal of readymade garments from the restricted list, according to him, was a step in this direction.He added that there was immense demand for Indian handlooms, handicrafts and 'special fabrics' which could be sold at a profit margin of 50 to 100 per cent.The National Institute of Fashion Technology and the National Institute of Design Development would also work towards helping Indian textiles carve a niche for themselves in the world market, Mr Kumar said.
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