Government Revokes Quality Control Orders to Boost Textile Exports

The Indian government has rescinded 14 quality control orders on chemicals and polymers, affecting industries like textiles and automobiles. This move aims to boost exports by addressing the high raw material costs of the Indian textile industry, thereby enhancing competition in the global market.

The Indian government has lifted 14 quality control orders on specific chemicals and polymers, a strategic decision that promises significant implications for industries such as textiles and automobiles. This initiative, announced by the Department of Chemicals & Petrochemicals, aims to streamline raw material costs and enhance India's export potential.

Among the revoked orders, seven pertained to fibre intermediates crucial to the man-made fibre (MMF) textile sector. Experts in the industry, including Sanjay K Jain of TT Ltd, suggest this will level the playing field against competitors like China and Vietnam, where MMF holds a dominant market position.

In conjunction, the government has approved funding schemes with a total of over Rs 45,000 crore to support exporters. This dual approach reflects a broader economic strategy to amplify India's presence in global markets and achieve ambitious export targets.

(With inputs from agencies.)