It is good to hear that the government has understood where our textile industry in general and textile exports in particular stand.

It’s a known fact which I would like to reiterate once again that our nation’s textile exports have a potential of $ 18 to $ 20 billion in the coming years. This means that the industry alone can create more than five million direct jobs and seven million indirect jobs in allied sectors.

President Kalam knows this potential and was rightly objective in his views when he said that we need to increase the production of cotton from 350 kg seed cotton per acre to 700 kg as the world average by adopting new technology and providing value addition to the cotton growers to increase earning capacity in the textile sector.

Perhaps all will agree with me that the textile industry has low investment but generates lot of employment which is good for the fledging Indian economy.

What we need now from the government is a combined effort to adopt research, technology generation, transfer of technology, modernization and upgrading of ginning and pressing factories and aggressive marketing strategy.

I would go a step further to say that doing away with all trade-distorting rules, labour law reforms, streamlining the taxation system will do a world of good for the Exim community. The concerned authorities are listening I hope!

A very timely editorial. India definitely needs to review its Foreign Trade Agreements (FTAs) with the other nations. The government has to see that it profits from these FTAs otherwise the exim community will have to bear the brunt of some unrealistic trade agreement.