Elevating India’s Textile Industry

As promised in budget 2021, the government earlier this week announced the approval for setting up seven new mega textile parks to elevate India's textile industry. The project will enable the country to become an integrated, globally competitive manufacturing and exporting hub while also generating more employment opportunities and foreign direct investments (FDIs) into the sector. Additionally, experts opine that the power outage and labor issues across China's textile units at Jiangsu, Zhejiang, and Guangdong, could benefit India and result in a 28-30% increase in our textile export revenue. However, the high demand for cotton and its limited supply has surged this crop's price, hampering the businesses of apparel makers.

Apart from this, union minister Piyush Goyal, who was recently in Dubai to inaugurate the India pavilion at the Dubai Expo 2020, said that the think tank is working on a robust e-commerce policy and is speaking to several stakeholders to resolve their concerns. Unfortunately, the proposal has already received flak from the Australian government who believes the policy will impose unreasonable compliance costs and be particularly onerous for the MSMEs, which would likely affect competition and consumer choice in India.

Modi Govt's Big Push to Make India Global Export Hub; Cabinet Clears Mega Textile Park Scheme

With an aim to put India on global textile map, the Union Cabinet on Wednesday approved setting up of seven new mega textile parks. This move will help to attract foreign direct investments (FDI) into the textile sector and generate thousands of employments. Union Cabinet cleared a total outlay of Rs 4,445 crore to build seven mega integrated textile region and apparel parks (PM-MITRA) over the next five years.

As trades pick up, exporters worried about competitiveness challenge: Survey

As global trade picks up pace after the ravages of the pandemic, an industry lobby's survey has found that an overwhelming number of exporters are worried about competitiveness.

Equitable  benefit aim  of  e-com  rules: Piyush Goyal

Striking a conciliatory note, trade minister Piyush Goyal said he would have to balance the interests of both consumers and large domestic companies who oppose the proposed e-commerce rules related to consumer protection. Goyal, who was in Dubai to inaugurate the India pavilion at the Dubai Expo 2020, said on Sunday that he hasn’t set a deadline to finalize the e-commerce rules.

China power shortage to benefit textile exporters but high cotton prices a dampener

Textile exports from India have surged as companies rush to tap the increased demand for cotton and yarn across the world amid a decline in supplies from China.

The environment Making trade greener

For decades, the dominant view among policymakers was that trade and environmental policy should be kept out of each other’s way. Limited measures to help the environment were allowed under wto rules, but only so long as they restricted trade no more than was deemed absolutely necessary. Environmental provisions crept into trade deals, but were usually framed as a way to stop partners from gaining an unfair competitive advantage by exploiting natural resources.