Surat – The Ministry of Textiles, Government of India, has appointed Southern Gujarat Chamber of Commerce and Industry (SGCCI) President Nikhil Madrasi, or his representative, as a member of the fiscal, banking, and credit intervention committee formed for the textiles, apparel, and handicrafts sector. The committee will be chaired by the president of the Confederation of Indian Textile Industry (CITI).
The panel has been tasked with advising the Centre on crucial issues related to banking, finance, and credit in the textile and allied industries. Its primary responsibilities include providing recommendations on rationalizing GST rates, suggesting tariff reforms, devising measures to ensure timely and affordable working capital loans for small and medium enterprises, and studying international models of export finance for possible implementation in India.
As per report, the committee will also work on preparing strategies to achieve the ambitious target of 100 billion dollars in textile exports by 2030. It is mandated to hold meetings every 15 days and submit an annual report to the Ministry within four weeks of its review cycle.
In addition to SGCCI, the committee will include representatives from leading industry bodies such as the Confederation of Indian Industry (CII), Apparel Export Promotion Council (AEPC), Cotton Textiles Export Promotion Council (TEXPROCIL), Carpet Export Promotion Council (CEPC), and the Powerloom Development and Export Promotion Council (PDEXCIL).
The inclusion of SGCCI in this national-level committee is expected to provide a strong voice for the textile hub of South Gujarat in shaping future financial and policy interventions for the sector.
