Textiles inter-ministerial panel to soon submit report to PMO

Industry needs to invest in innovation or R&D to become more competitive at a global level, says Textiles Minister K Sambasiva Rao

The inter-ministerial panel on textiles, headed by Textiles Secretary Zohra Chatterji, will soon submit its action plan to the Prime Minister's Office, which would suggest ways to raise the sector's exports.

At the meeting of High-Level Committee on Manufacturing, chaired by Prime Minister Manmohan Singh on July 9, it was decided that a slew of steps, including ramping up textile exports by 30% this year, would be taken.

For this, an inter-ministerial group was set up to work out a new competitiveness strategy for the sector.

"In the meeting, the Prime Minister had asked the group to prepare an action plan to recommend possible solutions to problems faced by the industry. We are preparing the report and it will be submitted in a couple of days to the Prime Minister's Office (PMO)," Textiles Minister K Sambasiva Rao said at a PHD function here today.

These decisions are crucial as these come against the backdrop of the government's keenness to boost manufacturing and exports amidst demand slowdown.

"The industry needs to invest in innovation or R&D to become more competitive at a global level," he said while suggesting ways for the industry to grow.

"There is no alternative except boosting textiles as it is a potential sector where exports can be increased quickly. But decisions have to be taken in time by the government and the authorities," Rao said.

During 2012-13, the country's textiles exports stood at $34 billion and the aim is to increase it by 30% to over $44 billion in 2013-14.