India Has Capability To Become World’s Biggest Textile Hub: Goyal

India has the capability to become the world’s biggest textile hub and the Indian textile sector has done commendable work, but should multiply their efforts, as a lot still needs to be achieved.

This was said by Chief Guest and Textile Minister Piyush Goyal, while delivering the keynote address at the 11th Asian Textile Conference (ATEXCON) held in Coimbatore.

“I am sure the textile value chain will weave tradition and innovation, and will work together to contribute to growth of the Indian economy, as the world is seeing the true potential of India,” he added.

“Let us all collectively resolve to work in a spirit of togetherness, to bring glory to India as a developed nation, so that the world acknowledges that the 21st century is an Indian century,” Goyal observed.

“India is a bright spot in the world economy and despite facing the challenges posed by the Russian-Ukraine war and global inflation, India today is one of the fastest growing economies in the world,” the minister stated.

“It is a matter of pride that despite its various challenges, India has become the fastest growing economy and is also the fifth largest economy in the world,” Goyal also added.

Goyal also expressed confidence that the Indian economy would reach $35 trillion by 2047, when the country celebrates 100 years of independence.

During his address, he expressed optimism of signing a Free Trade Agreement (FTA) with the UK, which is expected to offer a boost to the Indian textile and garment industry.

He appreciated efforts of LMW for developing indigenous textile machinery technologies, thereby reducing import dependency, while also adding that indigenous textile technologies must be scaled up through R&D.

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