Value chain

Textile players must move up the value chain and produce high value-added products, says Union Minister Piyush Goyal

Ease of doing business for MSMEs: Minister of Trade and Industry, Consumption, Food and Public Distribution and Textile, Piyush Goyal, on Tuesday called on textile industry players to move up the value chain and focus on the production of products with high added value.

While interacting with beneficiaries of the Production Linked Incentive (PLI) 2.0 program for textiles at a review meeting in New Delhi, Goyal asked beneficiaries to focus on improving the quality of textile products made in India to make them world class.

Also read: Shivalik Small Finance Bank raises Rs 111 crore from Accel, Quona Capital, Bharti AXA Life Insurance

The review meeting brought together representatives from 49 companies and key dignitaries from the Ministry of Textiles.

The Minister highlighted that textiles was one of the sectors identified by Prime Minister Narendra Modi as an industry with immense potential, due to its ability to generate jobs and boost growth and exports.

The unique selling proposition (USP) of India’s textile industry must not be limited to cheap labour, Goyal said. He also drew attention to the remuneration of workers in the textile sector, asking that they be paid fairly, benefit from social security and be integrated into the formal sector.

The minister further informed that the government is considering the second edition of the PLI program and requested officials from the Ministry of Textile to undertake wide consultations with stakeholders before finalizing the outlines of the PLI 2.0.

Under the PLI Textile Part 1, 67 candidates had applied, of which 64 were selected and out of these 64 companies, 55 companies had formed participating companies, the ministry said in its official statement. The proposed investment over the lifetime of the program is Rs 19,789 crores, of which an investment worth Rs 1,536 crores has been made so far.

The LIP Program Review Meeting was held to understand the implementation status of projects under the program and to resolve issues, if any.

Also read: Justdial partners with Telangana government to digitize MSMEs in the region

Furthermore, the National Industrial Corridor Development Program (NICDC) has shared immediate availability of land with plug and play facilities in Dholera, Aurangabad, Greater Noida and Indore.

The Minister also asked the Ministry of Textiles to keep in touch with the participants and solve the state and administrative problems they are facing.