The Reserve Bank of India has approved 60 requests to open Special Rupee Vostro Accounts of correspondent banks from 18 countries including the UK, Singapore, and New Zealand.
“RBI is working on this,” Goyal said at the Saurashtra Tamil Sangamam in Rajkot.
He also said that the government is setting up an Environmental, social and governance (ESG) group- comprising industry and government officials- for the textiles sector, as it aims $100 billion exports and $250 billion value of production by 2030. A roadmap would be made on sustainability and circularity.
Officials said that an ESG task force would be launched in collaboration with industry and concerned ministry representatives to help prepare a roadmap for sustainable textiles and facilitate transition of the textile and apparel industry to environmentally and socially compliant international norms.
The task force will focus on recycling textile waste, and study textile waste, and sustainability certifications.
“Certification of sustainable and handmade goods is necessary to develop a future ready and recession proof industry,” said an official, adding that sustainable textiles will be a dominant theme of all initiatives of textiles ministry. The government is also likely to provide a special space for recycled and up cycled products on Government eMarketplace, and schemes like the National Technical Textiles Mission maybe utilised for sustainability in technical textiles.
Handicraft, handloom ecomm portal
Goyal also launched an e-commerce portal on handloom and handicraft products, which would be integrated with the Open Network for Digital Commerce (ONDC).
“The ecommerce portal will be open to foreign counties and would be taken under ONDC,” he said.
Quoting exporters, he said that exports of sustainable goods get twice the value as compared to others.
On demand for yarn and finished products, Goyal said the “signs are good”.
“The Gujarat PM MITRA park will be the first to get operational,” he said, adding that the government received 13 proposals for Mega Integrated Textile Regions and Apparel parks and MoUs with the respective states are happening post which master plans would be developed.
As per the minister, the contours of the second edition of the Production Linked Incentive scheme for textiles would be finalised soon.