The Textiles Minister, Mr. Santosh Kumar Gangwar, has said that the long-awaited national textile policy is nearing finalization and is likely to be issued before the end of April.
Interacting with media persons after participating in the ‘Make in India’ seminar as part of the ‘Make In India Week’ in Mumbai, he said that consultations with all stakeholders are in progress, and he is confident that the new textile policy would be released during the Budget session of the Lok Sabha.
Earlier, speaking at the seminar on ‘Showcasing India’s Strength across the Value Chain’, the Minister observed that area-specific schemes have been formulated for the entire textile value chain. The Government has laid its specific focus on reducing transportation cost, as a result of which the cottonseed transport cost has come down by 25-40 per cent.
He disclosed that his Ministry has given approval for 24 new textile parks, which will create employment for an additional 4,50,000 people.
Referring to regional trade block agreements such as the Trans Pacific Partnership (TPP), he said the Government is working towards the Foreign Trade Agreement (FTA) with the European Union and is holding exhaustive discussions on the Regional Comprehensive Economic Partnership (RCEP). It is also in the process of reviewing the existing trade agreements such as the Indo-ASEAN FTA and the Indo-Korea Comprehensive Economic Partnership Agreement (CEPA).
The Minister expressed confidence that the futuristic, inclusive and participatory vision of the Government would yield long-term benefits.