India would become a 30 trillion dollar economy from the level of three trillion dollar economy very soon, Commerce and Industry Minister Piyush Goyal has said.
For this, the Indian government has been “aggressively addressing all the structural issues including tariff barriers, issues in taxation and global competitiveness,” he said while inaugurating a textile fair in Coimbatore, Tamil Nadu, on June 25.
Goyal said India was working actively with different countries to finalise free trade agreement which will give zero duty access to the Indian textile sector in the world market, our New Delhi correspondent reports.
Goyal advised all stakeholders in the value chain to strive hard, stand united and thereby become the largest manufacturing country in the world.
He said that from farm to fabric, fabric to finished products, finished products to fashion products and then finally to foreign products, India has a major share in the entire value chain.
The commerce minister said India has already finalised two FTAs with Australia and the UAE and was negotiating with the UK, Canada and EU. These FTAs will benefit textile business hubs like Coimbatore and Tirupur in the southern state of Tamil Nadu, he added.
He said the Indian government is promoting both cotton and man-made textile sector so that it gets larger share of world market, thereby increasing jobs opportunities as well as investment.
“In all sectors, we want to become a global industry. We want to capture the world market,” Goyal said.
