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Textiles sector looks to 2017 for policy boost

2016 turned out to be a mixed bag for textiles, as the government unveiled reforms to impart a thrust to the sector, rolled out innovative campaigns like 'I Wear Handloom', a new Minister at the helm, and a controversy over the appointment of former cricketer Chetan Chauhan as the NIFT chief.

December 27, 2016 / 16:15 IST
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2016 turned out to be a mixed bag for textiles, as the government unveiled reforms to impart a thrust to the sector, rolled out innovative campaigns like 'I Wear Handloom', a new Minister at the helm, and a controversy over the appointment of former cricketer Chetan Chauhan as the NIFT chief.

However, as the year draws to a close, the much-awaited new National Textiles Policy is yet to see the light of day, with the Textiles Ministry still engaged in consultations with stakeholders chalking out nitty-gritty of its roadmap.

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The policy aims to achieve USD 300 billion (over Rs 20 lakh crore) worth of textile exports by 2024-25 and create an additional 35 million jobs.

The textiles industry is eagerly awaiting the roll out of the policy in 2017, as it could make Indian garments more competitive in international markets by reducing the cost of production, and all eyes are on Irani, hoping she will infuse fresh momentum into the sector.