India News

Cabinet decision on National Textiles Policy Expected in July
July 12, 2017

The Union Textile Ministry is awaiting a formal request from Telangana government on the proposed textiles park at Warangal,. The Union Ministry of Textiles has almost finalised draft guidelines of National Textiles Policy (NTP) and same will be sent to the union Cabinet for approval in July. The government is waiting for the approval to release the funds for the same. Telangana Government has proposed to set up a fibre-to- fabric textile park in Warangal. The Centre has also prepared NTP with an objective of $300 billion (over Rs 20 lakh crore) textiles exports and generating 35 million jobs by 2025. The Government has already talked to various stakeholder in all segments including all handloom weavers, big manufacturers on the textiles policy and is almost ready with the draft. The textile and garment exports were up seven per cent during July 2016 and April 2017 on the back of some schemes announced by the Centre. The Textiles Ministry is targetting $45 billion this year as against the $40 billion last year.