In order to boost the textile sector, the government is working on the much-awaited new National Textiles Policy, with an aim to achieve $300 billion textiles exports by 2024-25 and envisages creation of additional 35 million jobs. The policy will focus on a three-pronged approach to boost the growth of Indian handicraft sector, which is facing tough competition from international players.
The policy’s three pronged approach involves incentivising expansion of production base for quality manufacturing of handicraft products used for interior decoration and lifestyle purposes. It will focus on promoting premium handicraft products for the niche market along with preservation and protection of heritage and endangered crafts.
The textile ministry is also focusing on promoting premium handicraft products for the niche market along with preservation and protection of heritage and endangered crafts. To review and revamp the textile policy 2000, the ministry had set up an expert committee and it is currently engaged in consultation with stakeholders including states and working out the financial implications of the policy with its finance counterpart.