The new textile
policy is expected to focus especially on handicraft sector and give incentives for expansion of its production base for quality manufacturing. It will have a three-pronged approach to boost the sector which is currently facing competition from international players. The policy will also aim to preserve and protect endangered crafts.
The new policy aims to create additional 35 million jobs and achieve $300 billion textiles exports by 2024-25, according to a news agency report
quoting a senior ministry official. The textiles ministry is consulting finance ministry, states and other stakeholders to work out the financial implications of the policy.
"We are focusing on promoting premium handicraft products for the niche market along with preservation and protection of heritage and endangered crafts," the official said.
The textile ministry had set up an expert committee headed by Ajay Shankar, member secretary, national manufacturing competitiveness council, for review and revamp of the textile policy 2000. (SV)
Source: Fibre2Fashion News Desk – India