Financial Risk Manager

Ways of Financial and Risk Management

Proposed Textile Policy
Tuesday, June 2, 2009

A committee has been constituted to evaluate the proposed textile policy, envisaging specific initiatives. Some of the facts related to textile industry and salient features of the policy are as follows;

Aim to achieve an export target of $25 billion and creating 2.9 million jobs over the next five years.
Lay foundation for a prospective plan spread over the next 15 years under which the country would move at the higher end of world textile map by achieving a target of textile exports between $75 billion and $100 billion.
Enlarging women's role in the textile sector.
The exports of textile and clothing sector declined by 9.27 percent during July-April of the current fiscal year to $7.898 billion, against $8.706 billion of corresponding period of last year.
More focus on research and development to increase supply of quality fibres and increase efficiency of downstream sector in line with domestic and international market requirements.
To provide all possible incentives for modernising the textile industry and making it more efficient since it is a valuable asset of the country.
Emphasis on focusing on areas and regions in the country through which optimum yield of cotton could be procured.
Call for integrated textile value chain which could help towards adding value to the country's agriculture potential by serving domestic needs as well as high value export demand through a well planned industrial structure, product diversification and institutional framework.
Aim at bolstering the sector in a big way by facilitating the sector to develop international and domestic-driven capabilities, development of state-of-the-art infrastructure facilities, comprehensive skill development framework to increase supply of efficient human resource, development of standards for international compliance, increasing productivity and improving quality.