The Union Textile Ministry is strategically advancing cotton exports through the Kasturi Cotton Initiative, which has garnered participation from 300 ginners nationwide. This initiative, focusing on promoting Indian cotton with branding, traceability, and certification, is now poised to target premium export segments.
Rachana Shah, Textile Secretary, notes the gradual increase in international demand for textiles, awaiting a decision from the Union Finance Ministry regarding the extension of the loan moratorium under the Emergency Credit Line Guarantee Scheme (ECLGS).
India, a top-tier apparel exporter, seeks to broaden its export base through new Free Trade Agreements (FTAs), as emphasised by Shah. The monitoring of import surges across textile segments and fortification of raw material value chains are underway, with Quality Control Orders issued in viscose, polyester, and other sectors to ensure product quality and restrain sub-standard imports.
To foster investments and raw material sourcing in the sector, the Indian government will host the Bharat Tex 2024 exhibition from 26th-29th February 2024. In 2023, the Government trained approximately 1.2 lakh individuals under the Samarth scheme, with a significant focus on empowering 1.08 lakh women. Additionally, the National Institute of Fashion Technology (NIFT) aims to enhance India’s textile exports by forging Memorandums of Understanding (MoUs) with other nations globally.