National Textiles Policy: Govt Likely To Develop Seven Mega Textile Parks To Attract Investment In The Sector

In a big boost for the nation's textile sector, the Government is readying the plan to develop seven mega textile parks as a part of the proposed National Textiles Policy (NTP), reports Economic Times.

The Smriti Irani headed Ministry of Textiles has already prepared a Cabinet note on the proposed NTP which is aimed at positioning India as a fully integrated and globally competitive manufacturing and exporting hub.

The development comes as the government is planning to double the domestic textile industry's size to $300 billion by 2025-26 and the NTP is being prepared to achieve that goal. The policy covers the entire spectrum of textiles, silk, handloom and exports with a focus on employment generation and environment.