Budget 2021: Need conducive policy environment for textiles sector

By Gaurav Davda

Buoyed by strong domestic consumption as well as export demand, the textile sector is starting to bounce back despite the spillover of the pandemic. This has led to a realignment of global supply chains and the adaptation of de-risking and broad basing strategy by international buyers.

We need a few more schemes such as production- linked incentive from the Government to attract global buyers and brands. Export is one key area that is showing signs of recovery and at the same time has the potential to make India the next global textile hub.

What the Indian textile sector needs now is a more conducive policy environment in addition to the brilliant policy infrastructure that already exists to keep this momentum going. In addition, the Government’s policies should focus on spurring innovation and technological up-gradation in the sector.

(Author is Senior GM - Corporate Finance & Strategic Initiatives, Jindal WorldWide Ltd.)