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Value addition holds key to future growth
The art of textile making began to develop in the Stone Age. The first textile fabric was probably a nonwoven crude felt, made by compressing loose clumps of fleece from wild sheep. The second stage was invention of yarn which was extracted from various barks of various plants in accordance to their availability.
Textile policy to focus on new markets
With an aim to grab one-fifth of the global textile business and increase exports to $300 billion in the next decade, the Government proposes to rejig labour laws, make special efforts to attract foreign investment and enter new markets with high export potential, such as Japan, China, Brazil and Russia.
Draft textile policy aims $300 billion exports
An expert panel constituted by the government on Monday submitted the draft of the new National Textiles Policy, which aims to achieve $300 billion exports by 2024-25, and creation of additional 35 million jobs by attracting investments.
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