Textile Industry – Indo Japan MoU

Cabinet approves MoU between India, Japan for cooperation in technical textiles. The Union Cabinet on Wednesday approved the signing of a Memorandum of Understanding (MoU) between India’s Textiles Committee and Nissenken Quality Evaluation Centre, Japan to improve quality and testing of Indian textiles and clothing for the Japanese market.

India accounts for about 4% of the global market for technical textiles. The ministry of textiles estimates the technical textile industry in India will grow to about Rs 2 lakh crore by 2020-21 from over Rs 1.16 lakh crore in 2017-18. Technical textiles account for about 12% of India’s textile market, compared with 20% in China

The MoU will facilitate Indian exporters to meet the requirements of Japanese importers as per their technical regulations, and boost Indian textiles and apparel.

Source: economictimes.indiatimes.com

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Author: sarthak19