Government Must Enunciate and Implement Pragmatic Policies for Growth of India's Textile Industry

摘要

The various Ministries of Government of India, namely Ministry of Textiles, Industry and Finance must enunciate and implement pragmatic policies for the growth of India's Textile Industry. Ministry of Textiles, Government of India has targeted a textile and apparel output of $ 225 billion by 2020, from the current output of $75 billion. In a Memorandum submitted to Mr Pranab Mukherjee, Finance Minister, Government of India CITI has recommended for some liberalization in the prudential norms for facilitating restructuring of long term loans taken by the textile industry. CITI has suggested that the Central Budget for FY 2012-2013 needs to take into consideration the serious problems being faced by the industry and incorporate measures to assist the industry to get back into the path of growth.