Union Textile Secretary Ravi Capoor has said that the Central government would address all issues in its new National Textile Policy which may be announced in a couple of months. Capoor said the policy will ensure basic raw materials availability at international price and encourage scale-up of operation by developing 10 mega textile parks with over 1,000 acres of land closer to the ports, among others.
He quoted, a statement from the Confederation of Indian Textile Industry (CITI), the new policy would address power cost, credit cost and its availability and expedite conclusion of the free trade agreements with EU, the UK and other countries to boost exports. He exhorted the textile industry, especially in Tamil Nadu, to diversify into polyester segment to boost exports.
The global textiles market of cotton and man-made fibre is in the ratio of 30:70 while it was the reverse in India. Of the total textile exports, cotton textiles accounted 80 per cent due to the price advantage of the home- grown cotton, while it is only 20 per cent in the man-made fibre segments due to the expensive raw material.
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