Revitalizing Indian Textiles: A Comprehensive National Textile Policy in the Making

A Parliamentary Committee has emphasized the need for a comprehensive National Textile Policy to enhance the global competitiveness of the Indian textile industry. The committee presented its report on Estimates 2023-24 on Empowerment Through PM Mega Integrated Textile Region and Apparel PM MITRA Parks Scheme and Revival Efforts For Sick Textile Units/PSUs Pertaining to Ministry of Textiles, highlighting crucial recommendations for the textile sector.

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Framing a Comprehensive National Textile Policy

Recognizing the significance of aligning industry-oriented and pro-active State Textile Policies/schemes with a National Textile Policy, the committee urged the Ministry of Textiles to formulate a comprehensive policy. This policy should incorporate best international practices and industry-oriented aspects of state textile policies to make the Indian textile industry globally competitive.

Expeditious Resolution for Revival of Sick Textile Units

The committee stressed the importance of expeditious resolution for the revival of sick textile units across the country. It recommended the preparation of an action plan for a time-bound resolution of issues related to each sick textile unit, involving all stakeholders. The report emphasized the need for swift settlement of land-related issues between the Centre and State Governments, and suggested engaging legal experts to settle disputes through Alternate Dispute Resolution mechanisms wherever possible.

Revival Efforts through Private Investment

The committee expressed its desire for revival efforts of non-operational sick textile undertakings/units through private investment, including the establishment of PM MITRA PARKS, once the government obtains dispute-free title to the properties. This approach aims to leverage private sector expertise and resources for the revitalization of sick textile units.

Taking Over Control of Champaran Sugar Company Ltd. (CSCL)

The committee took a serious view of the delay in taking control/possession of CSCL and urged the Ministry to assess and pay dues to all secured and un-secured creditors and Official Liquidator. It recommended taking over control/possession of CSCL with the permission of the concerned Court. Additionally, the committee suggested considering the substantial land mass of Barachakia and Chanpatia Units of CSCL for the development of a PM MITRA/Mini Textile Park without further delay.

The Parliamentary Committee's recommendations aim to revitalize the Indian textile industry, enhance its global competitiveness, and address the challenges faced by sick textile units. By framing a comprehensive National Textile Policy, expediting the resolution of sick textile units, and exploring private investment opportunities, the committee seeks to strengthen the textile sector and contribute to the overall economic growth of the country.