At the SIMA Texfair in Coimbatore, he also said that India and Canada have agreed to finalise an Early Harvest Agreement before the end of 2022.
“We are keen to support the apparel manufacturing sector and we are considering to come out with another PLI scheme,” Goyal said, adding that dialogue is going on among the textiles ministry, Department for Promotion of Industry and Internal Trade and Niti Aayog.
The government has announced a PLI scheme, with an outlay of Rs 1.97 lakh crore, for over a dozen sectors including man-made fiber, technical textiles, white goods, medical devices, and automobiles and auto components.
“In consultation with industry participants, we will be shortly devising a scheme which we will put up before the Cabinet for their approval,” Goyal said.
Goyal, who is also commerce and industry minister said that India has already finalized two free trade agreements (FTA) with the UAE and Australia, and is now “fast progressing to finalise FTAs with Israel, UK, Canada and the EU. We will get access to these developed markets which are more competitive, invite investment in a big way into India
“The GCC, EFTA and Eurasian Economic Union countries also asking India to conclude FTAs with them. We are confident that these FTAs will give a competitive edge,” the minister said.
On the National Textile Corporation, he said: “We should allow the private sector…we are examining whether NTC can run professionally and profitably. So far it hasn’t been.”
Citing the 40% growth in textile exports last year, he said the target is to double domestic production to Rs 20 lakh crore in five years and triple the exports to Rs 8 lakh crore ($100 billion) in 5 years from about $44 billion now.
“Brands like GAP, Zara, Tommy Hilfiger, H&M and Puma are clients of garment manufacturers in Tiruppur,” Goyal said.
When asked about any plan to extend waiver of customs duty on cotton imports beyond September 30, Goyal said that cotton textile prices are easing and “I do not think there is a need to extend it beyond September, but if required, we may extend it for a month”.
On the Mega Integrated Textile Region and Apparel (PM MITRA) parks scheme, he said that several states including Tamil Nadu have put up allocations to set up Mega Integrated Textile Region and Apparel parks and the ministry is assessing those applications.