Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  Irani asks textiles sector to commercialise opportunities
BackBack

Irani asks textiles sector to commercialise opportunities

Talking about the challenges posed by COVID-19 pandemic, Union minister Smriti Irani said that India's textile sector is now playing a monumental and significant role in manufacturing of PPEs
  • She also emphasized upon the role of state governments and exports of textiles
  • Union Minister of Women and Child Development and Textile minister Smriti Irani (PTI)Premium
    Union Minister of Women and Child Development and Textile minister Smriti Irani (PTI)

    KOLKATA : Textiles Minister Smriti Irani on Saturday said that the COVID-19 pandemic has thrown up opportunities and the sector should commercialise this scope.

    She said that the textiles sector is always looking for subsidy but one should keep in mind that subsidy is taxpayers' money.

    "There is a need to see opportunities and not wait for another crisis," Irani said at a webinar organised by ICC.

    Citing an example, she said that the personal protective equipment (PPE) category is a case in point.

    "India has become a new player in the PPE category after the pandemic surfaced," she added.

    Regarding textile parks, the minister said that during the UPA rule, no role was envisaged for state governments.

    "State governments need to oversee the functioning of these parks if employment opportunities are to be raised," she added.

    She rued that many promoters of these parks have run away after availing of the subsidy.

    Irani also said that the carpet industry will be aided as India is emerging as a key player in the international market.

    "If the export promotion council of the carpet industry takes up the matter, it will help the textiles department," she said.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 25 Jul 2020, 08:36 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App