India Can Be USD5 Trillion Economy With Support of MSMEs and Handloom Artisans: Bhagat Singh Koshyari

28 March 2022: “Handloom artisans and MSMEs have a prominent role in attaining the vision of USD5 Trillion Economy, as the Textile, Handicraft and Artisanal products are key drivers of export and employment besides pharma, IT and other sectors. India could attain the milestone of USD 400 billion exports in the current year largely because of the contribution of these small enterprises,” said Bhagat Singh Koshyari, Hon’ble Governor of Maharashtra at the GLOBALSPIN Trade Conclave organized by National Institute for Micro, Small and Medium Enterprises (NI-MSME) at World Trade Center (WTC) Mumbai.

Governor further stressed, “MSMEs in the handloom sector are very important for the economy. Indians have produced textile and clothing products of superior quality since the age of the Hindu epic Ramayana. Lord Rama was gifted a cloth, which could be used for 14 years of his exile. Archeological evidence shows that fine textile and handicraft were produced and used even during the 5,000 year-old Harappa and Mohenjo-Daro civilization.”

Koshyari remarked, “India has to revive its lost glory of handloom and Khadi industry heritage, which was destroyed during the British Raj. India’s handwoven textile Dhaka Mulmul was globally popular for its fine quality and texture before the British regime. It is only by strengthening our age-old handloom, handicraft and other products can we generate more employment and exports.”

Speaking on this occasion, Dr. Vijay Kalantri, President All India Association of Industries and Chairman, World Trade Center Mumbai mentioned, “India’s textile industry contributes 2% of the economy, but supports at least 10 crore people. In order to promote our textile industry, the government should emphasise on enhancing our spinning and weaving capacity for local value addition rather than export of raw cotton. This will help us in fulfilling the vision of Atmanirbhar Bharat programme.”