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.â€Â
“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.