News Buzz

Govt consults textile industry

Given the challenging condition in which the country’s textile sector finds itself, the Textiles Ministry has started consultations with the industry stakeholders on the New Textiles Policy. The policy (which is likely to be rolled out next year) will include n action plan for the textile and apparel sector to position India as a “fully integrated, globally competitive manufacturing and exporting hub”.

The country’s textile sector is reeling under pressure as it faces tough competition from Bangladesh, Vietnam and Pakistan, among other countries. Indian exports of cotton yarn, made-up textile articles and handloom products consequently declined 3.65% on year in November, while those of readymade garments fell 6.5%.