Minister Piyush Goyal said that Textile Industry has a big role to play in
making Free Trade Agreements a success.
Keynote address at the 10th Asian Textiles Conference TEXCON on the
theme- 'Reimagining the Textile and Apparel Industry for the next Decade', he
said that FTAs with Developed Countries is high on the agenda of his Government.
Mr Goyal said
that innovation is going to be the defining feature in India's march towards
becoming a Developed Nation. He highlighted the role of innovation across all
value chains in the Textile sector and also urged the Textile sector to focus on
recycling and digitization. He said if the industry focuses on innovation,
sustainability, digitization, newer products and utilization of Free Trade
Agreements (FTAs), it can grow fast and compete with the best in the world.
sustainability, the Minister said that textiles sector can reduce the pressure
on the environment by using reusable resources as well as reduce its own
Digitization is another area which can help optimize the
entire value chain in the sector.
He expressed satisfaction at the fact that the
industry captains are talking about digitization. In current era of information
technology, every industry is benefitting from new technologies like block
chain and more. He suggested that the industry should think about high quality
products and elementary products like zip and embellishments, which the Indian
textile industry imports at present.
Confederation of Indian Textile Industry, CITI, for bringing together all
stakeholders of the Textiles value chain on one platform , the Minister said
that the theme, ‘Reimagining the Textile and Apparel Industry for the Next
Decade’ is very appropriate, specially with Indian textile exports aiming to
reach the target of 100 billion US dollars by 2030. He appreciated the forward
looking approach of the 10th edition of the Asian Textile Conference.
Indian Textile Industry and Egyptian
Cotton also signed a Memorandum of Understanding (MOU). Both the industry
bodies will work together for mutual benefits.