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India’s new textile policy to focus on structural issues

India’s new national textile policy will be out in a few months. The target will be to address structural issues and ensure basic raw materials are available at international prices, encourage scale of operation by developing ten mega textile parks closer to ports and give plug-and-play facilities, including the necessary safeguard measures in labor laws. Power cost and credit cost will be addressed. Efforts will be made to expedite free trade agreements with the EU, the UK and Bangladesh, along with other countries, to boost exports. The Tirupur garment cluster will be encouraged to brand garments and products under a sustainable program that will fetch it a larger margin. The surplus production capacities created across the value chain during the last four years will be utilised for polyester textile manufacturers.

The textile industry has been identified as a thrust area. As part of inclusive growth jobs will be provided at all skill levels especially the rural masses and women. Dedicated textile parks will be set up for technical textiles and textile machinery manufacturing with the latest technology spares, accessories and parts to promote import substitution and thereby reduce the capital cost substantially. R&D centers are envisaged for each segment.

 
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