STATESMAN NEWS SERVICE
New Delhi, 2 August
In keeping with the decision of the high-level committee on manufacturing which met on 9 July, the inter-ministerial panel headed by textiles secretary Zohra Chatterji will soon submit its action plan to the Prime Minister’s Office.
The meeting on 9 July chaired by the Prime Minister Manmohan Singh decided that a slew of steps, including ramping up textile exports by 30 per cent this year, was needed.
“In the meeting, the Prime Minister had asked the group to prepare an action plan to recommend possible solutions to problems faced by the industry. We are preparing the report and it will be submitted in a couple of days to the Prime Minister’s Office (PMO)," textiles minister K Sambasiva Rao said at a PHD Chamber function here today. These decisions are crucial as they come against the backdrop of the government’s keenness to boost manufacturing and exports amid demand slowdown.
“The industry needs to invest in innovation or R&D to become more competitive at a global level,” Mr Rao said.
“There is no alternative except boosting textiles as it is a potential sector where exports can be increased quickly. But decisions have to be taken in time by the government and the authorities,” Mr Rao said.
During 2012-13, the country’s textiles exports stood at $34 billion and the target is to increase it by 30 per cent to more than $44 billion in 2013-14.