Prabhu said he is holding talks with various countries to explore new markets for Indian fabrics, garments and apparels in order to boost exports, as he said the industry is working in ‘sub-optimal’ level for its over-dependence on the European Union and the US for exports.
Union commerce and industry minister Suresh Prabhu today stressed on the need to promote the textile industry to give a boost to the manufacturing sector, as he claimed that the sector contributes only 16 percent to the country’s GDP at present.
Prabhu said he is holding talks with various countries to explore new markets for Indian fabrics, garments and apparels in order to boost exports, as he said the industry is working in ‘sub-optimal’ level for its over-dependence on the European Union and the US for exports.
“Contribution of manufacturing sector is only 16 percent to our economy. It is also a fact that the textile sector is a major player in that contribution. But, when only 16 percent of our GDP comes from manufacturing, it is not enough for a sustainable economy. Thus, it is necessary to scale up that contribution,” said Prabhu.
He was speaking here today at the inaugural ceremony of the three-day ‘Farm to Fashion – Indian Textile Global Summit 2018’, organised by the Gujarat Chamber of Commerce and Industry (GCCI) as well as Maskati Cloth Market Mahajan.

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