New textile policy will address all issues: Govt official

Coimbatore, Feb 13 (): The Central government wouldaddress all issues in its new National Textile Policy which islikely to be announced in a couple of months, Union TextileSecretary Ravi Capoor has said.

This was announced on Wednesday during an interactivesession with captains of the textile industry in theregion.

Capoor said the policy would ensure basic rawmaterials availability at international price and encouragescale-up of operation by developing 10 mega textile parks withover 1,000 acres of land closer to the ports, amongothers.

The new policy would address power cost, credit costand its availability and expedite conclusion of the free tradeagreements with EU, the UK and other countries to boostexports, a press release from the Confederation of IndianTextile Industry (CITI), which organised the session, quotedCapoor as saying.

He exhorted the textile industry, especially in TamilNadu, to diversify into polyester segment to boost exports.

The global textiles market of cotton and man-madefibre is in the ratio of 30:70 while it was the reverse inIndia.

Of the total textile exports, cotton textilesaccounted 80 per cent due to the price advantage of the home-grown cotton, while it is only 20 per cent in the man-madefibre segments due to the expensive raw material.

Capoor asked Tirupur Knitwear Cluster to brand itsgarments and products under sustainable programme that mightfetch a larger margin globally and the government would extendnecessary support to promote the brand.

CITI chairman T Rajkumar said the government hasidentified the textile industry as the thrust area and in realterms Make in India facilities without any imports rightfrom fibre to finished goods, ensures inclusive growth byproviding jobs. NVMNVG NVG

(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)

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