Aatmanirbhar Bharat: Big relief for textile sector likely soon, reveal sources

The government is focusing on certain sectors to promote its ‘Aatmanirbhar Bharat’ mission and has identified the textile sector as one of the key sectors to take it forward. In light of this, the Modi government is planning to give a much needed relief to this sector, Zee Business Executive Editor Swati Khandelwal told Managing Editor Anil Singhvi in this big breaking news.

The textile sector will play a big role in realising government’s dream of ‘Aatmanirbhar Bharat’, Khandelwal said. Source close to her have revealed that the government is planning to develop a large world class textile infrastructure in the country in the form mega textile parks.

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#ZBizExclusive | आत्मनिर्भर भारत के लिए टेक्सटाइल सेक्टर को बड़ी राहत संभव, नेचुरल प्रोडक्ट्स के इस्तेमाल पर जोर देगी सरकार: सूत्र

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 The mega textile parks will encompass a complete value chain of this sector, she added. India has been lagging in this respect, though there are similar such ecosystems for this sector in other countries, the Executive Editor said.

To make this happen, the government is planning to promote naturally used products like bamboo and high performance value added fibers, she said. The government is likely to increase its focus on these products, she further said.

She also said that in order to promote Brand India on global platforms and telling the world about its strengths, employing aggressive marketing methods is also part of the agenda.

The government is also thinking of providing credit at concessional rates through interest subvention schemes, credit guarantees and margin money subsidy.

The government also wants a large warehousing infrastructure to be present near all ports. These should also be near the textile sector, Khandelwal said.

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Technical textiles is another important element. This segment caters to the sectors like automobiles. The role of India is quite small in this aspect and there is a big opportunity in this area, she further said. A report on this will soon be finalised.