PM Calls Upon Powerloom Sector For Achieving US$ 400 Billion Export Target

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PM Calls Upon Powerloom Sector For Achieving US$ 400 Billion Export Target

India’s Prime Minister, Narendra Modi, and Union Commerce & Industry, and Textile Minister Piyush Goyal, had an interactive virtual meet with the Indian powerloom sector, and ambassadors of various countries, to understand the export market situation, and how the powerloom sector can contribute to India’s export target of US$ 400 billion. PDEXCIL members and exporters from Mumbai, Bhiwandi, Erode, Salem, Coimbatore, Ichalkaranji, Kolhapur, Solapur, attended the meet. M.A. Ramasamy, Chairman, PDEXCIL said, “We are thankful to Shri Narendra Modi Ji, the Hon'ble Prime Minister of India for taking this great initiative and recognising the role of the MSME sector in achieving the export target of US$ 400 billion. Our member exporters will work tirelessly to not just achieve but cross the US$ 400 billion target.” Ambassadors from various countries including Bangladesh, UK, China, UAE, USA, etc interacted with the PM, briefing him about the market and trade scenario in their respective countries, and major issues faced by them. According to PM Narendra Modi, “With the start of railways to Bangladesh, trade is gaining momentum. We are witnessing strong export recovery.” To further give a fillip to exports, the government has announced a Rs 88,000 crore insurance cover scheme for exporters, Modi informed. “The ambitious target of export of US$ 400 billion can be achieved with a holistic and detailed action plan,” he said. India has already achieved 33% of its target export of US$ 400 billion. “PDEXCIL supports the historic effort of our Prime Minister for 'Local Goes Global - Make in India for the World'. Every effort of the Hon’ble Prime Minister will help powerloom and MSMEs sector to export their products worldwide,” said Ramasamy. “PDEXCIL is confident of a double-fold increase in exports. Powerloom sector accounts for 65% of India’s fabric production, employing around 6.3 million workers. Most of the fabric exported from India is sourced by the powerloom sector,” he added. PDEXCIL has urged the government to take a call on various other textiles issues which will benefit the powerloom and MSME sector.