As part of its work to promote Indian textile exports, the government plans to open a ‘Bharat Park’ in the United Arab Emirates. The establishment will be designed to connect Indian textile manufacturers with international buyers and take advantage of free trade agreements.
India’s Minister for Commerce and Industry and Textiles Piyush Goyal announced plans for the ‘Bharat Park’ at the Synthetic & Rayon Textiles Export Promotion Council’s Export Awards ceremony in Mumbai, Apparel Resources reported. Goyal attended the event as chief guest and addressed the crowd to share industry developments.
In his address, Goyal noted that the UAE boasts secure payment mechanisms which would encourage international buyers to make orders from Indian businesses at the proposed Bharat Park. Goyal also opined that India does not currently make full use of its free trade agreements with numerous territories and proposes pursuing ways to make the most of these international deals.
The government is focused on increasing exports of man made fibre textiles and expects the sector to cross $6 billion in exports in the 2024 financial year. Goyal stated in his address that man made fibre textiles are the future and that the Union Government is committed to uplifting the industry.
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