The Hindu Business Line : Hussain vows to modernise textile sector

THE new Textile Minister, Mr Shahnawaz Hussain, on Wednesday said that his immediate priority was to make the country's oldest industry modern and competitive to face the challenges confronting it after the extant multi-fibre arrangement (MFA) quota regime is dismantled in end-2004.

Speaking to newspersons after assuming office, Mr Hussain said that the biggest challenge facing the Indian textile industry was to compass the export target of $50 billion as set out in the New Textile Policy 2000.

Considering the fact that the quota regime governing global trade in textiles and clothing would be dismantled by end-December 2004, India could achieve the $50-billion target much ahead of the scheduled 2010 if the industry was modernised and made competitive through policy intervention and other support.

The industry accounts for eight per cent of the country's gross domestic product (GDP), 17 per cent in manufacture capacity and 27 per cent in terms of export earnings.

Countries such as Bangladesh have become so competitive that Indian exporters had even set up base in Bangladesh for export to third countries.

"As such, my priority would be to restore the confidence of domestic manufacturers within the country by enabling them to be competitive in manufacture and merchandise."

On whether his new portfolio was a sort of demotion from the high-flying Aviation Ministry, he said that he had held many portfolios ranging from food processing, coal, and human resource development to civil aviation and each was a "unique experience".

Later, senior officials led by the Textile Secretary made a detailed presentation about the various activities of the Ministry and the different export promotion councils working under it also made a Powerpoint presentation on their activities.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Telephone service tax revised

AP working on solid waste disposal plan

Environment Day celebration

Steel output goes up 8.7% in April

BKS urges factory to clear cane dues

Hussain vows to modernise textile sector

Pamba plan waiting for some action

Ministry rethink on new bottled water norms?

Water levels down

CAS: Pay, FTA channels may take new routes

`Delhi, Bangalore real estate trend likely to remain stable' — Mumbai office rentals may even out in next quarter