NEW DELHI: India’s annual textile exports could rise to $ 100 billion in the next five years from the current $ 40 billion, a senior official said on Tuesday.
Speaking at the 44th Annual General Meeting of the Textile Promotion Committee (AEPC), Textiles Secretary Upendra Prasad Singh said the national garment industry must focus on vertical integration to increase its size and potential and benefit from a manufacturing-related concept (PLI). .
“Clothing and apparel is not a huge investment but it is important from a work perspective. Perhaps, there is a need for more integration and more that can be incorporated into integrated values such as spinning and spinning,” Singh said.
Commenting on the event, the clothing secretary said that with PLI’s intention, the government decided to make Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) a success. The idea is not to have world class infrastructure but also a developed company there, he added.
Commenting on the fact that costumes are always among the top priorities of the government, the author said, “There are so many great worlds. The demand continues to be strong and China with the acquisition process by the west is certainly a great opportunity for us. . “
Singh said it depends on how good, efficient and integrated the Indian clothing industry is and how it increases its size and scale.
“We should be in a position to offset $ 20 billion in exports of clothing by next year or so,” Singh said.
He added that the country’s exports could increase from the current 40 billion USD to 100 billion USD in the next five years.