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Textile policy
Why is it in the news?
- According to the secretary of the Union Ministry of Textiles, the Central Government is expected to roll out a Textile Policy by the middle of this year
More in the news
- The textile Ministry plans to develop 10 mega textile parks. Each one will be an integrated park.
- It hope to bring some economies of scale with this.
- Its aim is that India should be a destination for Foreign Direct Investment in textiles and India need good infrastructure for it.
- Any State which has minimum 1,000 acres ready for the park will be supported to develop it.
- Indian exporters are largely cotton based.
- The Secretary was hopeful of textile and garment exports increasing this financial year compared to last year, when it was roughly $38 billion.
- Another thrust area will be technical textiles.
- The Cabinet is expected to approve the National Technical Textiles Mission, announced in the Budget, soon. It will be rolled out in a couple of months.
Source
The Hindu.