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Textile industry aims to be $350 billion by 2025

07 Jun 2019 Evaluate

The textile industry is expecting to become a $350 billion industry by 2025 from the current $137 billion. For India, there is a need to develop man-made fibre to remain competitive in the global market. Textiles Secretary Ajit B Chavan said it is high time that the industry changes its approach to move into the second growth phase and aim for exports of around $100 billion from the current $40 billion.

Chavan further added ‘we need to come up with detailed plans that can take the industry to its next level. All these years we have focused on more production scale, but now the focus has to be on quality and other aspects to improve our competitiveness’.

Besides, in view of the US China trade war, India needs to create a level playing field for local players and protect the domestic industry. The US China trade war holds a lot of opportunities for India, but India need to be competitive.

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