Parliamentary Committee emphasises need for comprehensive National Textile Policy to enhance textile industry
February 09, 2024 A Parliamentary Committee has emphasised the need for a comprehensive National Textile Policy to enhance the global competitiveness of the Indian textile industry.
The committee presented its report on Estimates 2023-24 on Empowerment Through PM Mega Integrated Textile Region and Apparel PM MITRA Parks Scheme and Revival Efforts For Sick Textile Units/PSUs Pertaining to Ministry of Textiles, highlighting crucial recommendations for the textile sector.
The committee encouraged the Ministry of Textiles to develop a comprehensive strategy, acknowledging the importance of coordinating proactive and industry-focused State Textile Policies/schemes with a National Textile strategy. To make the Indian textile sector competitive on a global scale, this strategy should integrate industry-focused elements of state textile policies with best worldwide practices.
The committee emphasised the significance of swiftly reaching a resolution in order to revitalise the nation’s ill textile plants. It suggested that an action plan be created and shared with all relevant parties in order to address problems associated with each ill textile unit in a timely manner. The research underlined the necessity of the Centre and State Governments resolving land-related disputes expeditiously. It further recommended that legal professionals be consulted wherever possible in order to resolve conflicts through Alternative Dispute Resolution procedures.
After the Government acquires dispute-free title to the assets, the committee stated that it would like to see private investment put towards the revival of non-operational sick textile undertakings/units, including the creation of PM MITRA PARKS. The objective of this approach is to utilise the resources and skills of the private sector to revive distressed textile businesses.
The proposals made by the Parliamentary Committee are intended to boost the Indian textile industry’s competitiveness abroad and alleviate the problems that ailing textile units are facing. The committee’s goals are to boost the nation’s textile industry and aid in its general economic growth by developing a thorough National Textile Policy, resolving sick textile units quickly, and investigating private investment prospects.
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