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GOVT TO PROCURE DOMESTIC RAW MATERIAL TO PUSH $40 BILLION APPAREL EXPORTS
December 10, 2023
|The Business Guardian
The Government is pushing for the expansion of textile exports to USD100 billion led by growth in exports of readymade garments (RMG) from USD 16 billion to USD 40 billion which will have the potential to be a game changer for the future of the textiles industry and create a value-added proposition.
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With the government taking every possible step to promote exports such as entering into free trade agreements and promoting the brand India, Commerce Ministry Piyush Goyal has asked apparel exporters to procure raw materials from Indian players, reduce dependence on “opaque” foreign suppliers, and guard against “predatory pricing.
“For the long-term health of the whole textile ecosystem in the country, it is necessary to build domestic supply chain capacities by supporting each other,” Goyal said at the presentation of Apparel Export Promotion Council awards to RMG exporters, recognizing extraordinary contributions made by Indian apparel exporters.
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