Economy

Govt weaving a structure for technical textiles, man-made fibre

Our Bureau New Delhi | Updated on December 18, 2020

Coming soon, a new textile policy, says Minister

The Textiles Ministry is working on a structure to roll out the Production Linked Incentive (PLI) scheme for technical textiles and man-made fibre (MMF) segment, Textiles Minister Smriti Irani has said.

“ On the anvil is a new Indian textile policy. The last time India had a textile policy was two decades ago,” said Irani at a virtual conference on Aatmanirbhar roadmap organised as part of Assocham Foundation Week 2020.

Technical textiles and MMF are among the ten additional sectors for which the Union Cabinet recently approved the PLI scheme to boost manufacturing and exports. The final proposals of PLI for individual sectors will be appraised by the Expenditure Finance Committee (EFC) and approved by the Cabinet.

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The Minister said when policy reforms are looked at, `Aatmanirbhar Bharat’ cannot come to fruition if work takes place in silos, according to a statement circulated by Assocham. “So while on the one hand, the Centre undertakes agricultural reforms, on the other, it leverages technology to provide farm support and undertake MSP operations,” Irani said.

Sharing details on the rise in MSP in cotton, the Minister said in 2013-14, MSP operations in the cotton segment were worth just ₹90 crore, while last year, the MSP operations had crossed ₹28,500 crore, the statement said. “This season, in the cotton segment, MSP operations worth ₹14,659 crore have been undertaken and 9.63 lakh cotton-producing farmers have directly received ₹11,799 crore in their bank accounts. This was done in just two months,” said the Minister.

Helping cotton industry

Highlighting the link between agriculture and industry, Irani pointed out that today India produced only four lakh bales of extra-long stable (ELS) cotton. If the industry worked with the farming community, the potential growth of production of ELS cotton could be increased from four lakh bales to 50 lakh bales. Cotton textiles industry could touch $80 billion from $18 billion.

On the anvil is a new Indian textile policy. The last time India had a textile policy was two decades ago.

 

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Published on December 18, 2020

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