Government of India plans to establish 75 textile hubs such as Tiruppur, which will not only support textile product exports and ensure the inclusion of sustainable technology but will also create a large number of job opportunities, said the Union Minister of Textiles, Commerce and Industry, Consumer Affairs, Food and Public Distribution, Piyush Goyal, today at an event in Tiruppur.
Goyal stated that Tiruppur has made the country proud by producing textiles worth 30,000 crore per year. He stated that the sector employs 6 lakh people directly and 4 lakh people indirectly, totaling a total of 10 lakh people.
He claimed that Tiruppur exported Rs 15 Cr in textile products in 1985. Tiruppur's estimated exports for the fiscal year ending March 2022 are Rs 30,000 Cr, representing a two-fold increase. Given the region's unprecedented growth in the textile sector over the last 37 years, Tiruppur's compounded annual growth rate is 22.87 percent.
He stated that Tiruppur has numerous job opportunities and encouraged young people to take advantage of them. He also stated that the children will be trained. He stated that nearly 70% of those employed in the textile sector in Tiruppur are women and people from marginalized groups.
Goyal stated that the total value chain of the textile sector alone employs approximately Rs 3.5-4 crore people in India. After agriculture, textiles is the second largest employer. The industry is worth around ten lakh crores. The export is approximately Rs 3.5 lakh crore.
He reiterated that the textile industry has the potential to grow to a Rs 20 billion industry in the next five years, with exports of Rs 10 billion. Even so, a modest export target of Rs 7.5-8 lakh crore and a production target of around Rs 20 lakh crore have been set for the next five years.
He discussed the challenges that India faces in terms of COVID as well as war between other countries. Despite the challenges, he emphasized that, under Prime Minister Modi's leadership, India is one of the world's fastest-growing economies.
Goyal stated that if India grows at a compound annual growth rate of 8% per year, the economy will double in about 9 years to a Rs 6.5 trillion economy. Similarly, India's economy is expected to be worth Rs 13 trillion in 18 years. In 27 years, the economy will have grown by Rs 26 trillion, and after 30 years, India's economy will be worth Rs 30 trillion.
Tiruppur, he claims, is the leading source of hosiery, knitted garments, casual wear, and sportswear, as well as a traditional cotton ginning centre.
He stated that he saw many innovative projects during his visit to SITRA yesterday. He stated that the Centre will collaborate with the Health Ministry on the SITRA Sanitary Napkin Machinery to provide low-cost sanitary napkins as part of the PM Jan Aushadhi Yojana.
In his address, L Murugan, Union Minister of State for I &B, emphasized the benefits of the newly signed FTAS, which will help the country grow exponentially. Revolutionary measures such as PM Gati Shakti, the National Master Plan, would help improve infrastructure planning and ensure project completion on time and within budget. The establishment of Multi-Modal Logistics Parks, a focus on container manufacturing, and the development of East-West and North-South freight corridors are all steps in the same direction.
