The Ministry of Commerce of the Government of India will soon release a strategic document mentioning ways to increase the competitiveness of the Indian textile industry in the export market.
Indian textiles are becoming less competitive in the global market, while countries like Sri Lanka and Turkey are becoming more competitive in this area, news agencies quoted a senior Commerce Ministry official as saying.
The move to publish the strategy document is particularly important as textiles account for 10% of India’s total exports.
Meanwhile, the Ministry of Textiles is expected to soon release a national textile policy aimed at achieving exports of US$300 billion and creating an additional 35 million jobs by 2024-2025.
In addition, the Indian government is likely to announce some foreign trade policy incentives for the textile industry and will be announced in the second week of April 2015.
