At a recent conference, Minister for Textiles Shri Shankersinh Vaghela said that the Indian textile industry is expecting a greater share in global markets in the near future.

He pointed out that there has been resurgence and increased investment in the textile sector in the post-quota period. Mr Vaghela briefed participants about the current global scenario, the progress in India’s textiles exports and the future vision for attaining the textile export target of $50 billion by year 2010.

Minister for Agriculture, Shri Sharad Pawar said the government has introduced a number of initiatives, such as the Technology Mission on Cotton, which has resulted in increased productivity and quality for the cotton industry. He said that, as India’s textile exports are predominantly cotton based, the Indian textiles industry derives its comparative advantage from abundant availability of home-grown cotton.

Union Minister for commerce and industry Shri Kamal Nath called upon state governments to attract investment in the textiles sector by providing a more investor friendly environment in their respective areas. He said that amongst the manufacturing sectors, the textile sector generates the maximum employment with the least investment. However, labour representatives emphasised the need for flexibility in labour laws and reduction in power and transaction costs, pointing out that power costs in India are much higher than in competing countries.