The Union Textile Ministry plans to promote cotton exports under the Kasturi Cotton Initiative that has so far registered 300 ginners from across the country.
With an aim to promote Indian cotton through branding, traceability and certification; the Kasturi Cotton Initiative will now target premium export segments.
Rachana Shah, Textile Secretary, states, demand for textiles is slowly picking up in the international markets and Union Finance Ministry will soon decide on the extension of loan moratorium under the Emergency Credit Line Guarantee Scheme (ECLGS).
India is ranked amongst the top 5 apparel exporting countries and plans to expand its export base via new FTAs, adds Shah. Assuring that import surges in all segments of textiles are being monitored and value chains for raw materials strengthened, Shah pointed out that Quality Control Orders are being issued in viscose, polyester and other segments to ensure quality and curb sub-standard imports.
By hosting the Bharat Tex 2024 exhibition from February 26-29, 2024, the Indian government aims to drive more investments and sourcing of raw materials in the sector. In 2023, it trained around 1.2 lakh people under the Samarth scheme, including 1.08 lakh women. National Institute of Fashion Technology (NIFT) also plans to expand India’s textile exports by signing MoUs with other nations of the world.
