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NTP is in right direction says Gokaldas Exports’ MD

Dec 31, 2020
NTP is in right direction says Gokaldas Exports’ MD

The National Textile Policy is expected to target investments worth Rs 10,000 crore and exports of $100 billion. Sivaramakrishnan Ganapathi, MD, Gokaldas Exports and P Sundararajan, CMD, SP Apparels giving insights to the policy said it is set to boost the Indian textile industry.

Ganpathi told leading news daily that the policy from the government is in the right direction.” The textile industry will get a fillip and the target for setting aside Rs 10,000 crore could potentially help exports worth of about Rs 2 lakh crore in the next five years or so, is an excellent initiative,” he further added.

“The mechanics will determine how successful the policy will be, and those are areas where details need to be spelt out. I would measure the policy’s success based on whether the industry can leverage the policy and earn the incentives,” he commented.

Sundararajan said, “This policy is definitely an encouraging one; after COVID, everybody was very uncertain. But fortunately for India, generally in Europe and the US, there are a lot of anti-China sentiments going on, and especially for substitutable products like textile and apparel their customers have started looking for alternate counties like India, Sri Lanka, and others.”

“Government is also supporting this industry in terms of human resources, a lot of benefits and subsidies and schemes are going to be introduced. I also understand from reliable sources that they are working hard to sign up some FTA with European countries and the UK - if that also comes, we are at par with other competitive countries on a landed cost,” he said in a news report.