BUSINESS NEWS

Goyal said that the textile machinery sector should reduce dependence on imports

Written by admin

Goyal said that the textile machinery sector should reduce dependence on imports

New Delhi, Oct 24 (PTI) Union Minister Piyush Goyal has asked the textile machinery sector to reduce dependence on imports. Emphasizing on the development of 100 ‘champions’ in the textile machinery sector, he said that with the combined efforts of the textile engineering industry and the government, the import dependence of the sector can be reduced.

The Minister of Commerce and Industry, Textiles, Consumer Affairs and Food and Public Distribution said this during a video conference with textile machinery manufacturers on Friday.

He asked the textile machinery manufacturers to work through ready-made facilities and make the sector dynamic.

15 textile machine manufacturers from abroad, 20 domestic manufacturers and seven associations of textile machinery and allied industries participated in the discussion.

The objective of the discussion was to formulate a possible strategy to develop the ecosystem for the growth of the textile engineering industry in the country under the Make in India programme.

Goyal said that the National Capital Goods Policy is a policy for the manufacturing sector. The government has made this policy to take the production of capital goods to $ 101 billion by 2025. The production of capital goods by value was $31 billion in 2014-15.

Goyal asked the textile industry to enter into an innovative partnership. Goyal emphasized on the development of 100 leading units in the Indian textile machinery sector, which are globally recognized, a statement said.

The Minister said that India should strive to become a global player in the field of textile machinery production. Such machinery should be produced according to the quality and quantity that the world needs.

See also  Gold futures rise on spot demand

Goyal said, “We are not against imports, but there is a need to reduce dependence on imports with the concerted efforts of the textile machinery industry and the government. If we focus on quality, we can capture bigger markets and achieve higher productivity.”

He said that the unorganized textile industry of the country would also benefit from the modern and advanced textile machinery ecosystem.

#Goyal #textile #machinery #sector #reduce #dependence #imports

About the author

admin

Leave a Comment

close
%d bloggers like this: