Cabinet approves MoU with Australia on cooperation in textiles

The MoU will enable cooperation with regard to matters, within the textiles sector, of mutual interest.

The Dollar Business Bureau 

In order to boost the textile and handloom sector, the Cabinet has approved a memorandum of understanding (MoU) with Australia on cooperation in the field of textiles, fashion and clothing.

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the MoU on cooperation in the textiles, clothing and fashion sectors between the Ministry of Textiles and the Department of Foreign Affairs and Trade, Australia, an official statement said on Thursday.

“The MoU will enable cooperation with regards to matters within the fashion and textiles sectors which may be of mutual benefit and interest to the participants,” it added.

The participants will mutually identify some appropriate measures to link the Indian and Australian fashion and textile sectors; promote partnership and international engagement between these sectors; nurture the talent and skills within the sectors; promote the economic opportunities and encourage professional engagement, skill development, training and public exhibition of the products derived from those sectors in both countries.

“However, the Intellectual Property Rights (IPR) of both the sides will stand protected,” the statement said.

The weavers’ community including the ancillary workers will going to be benefited from the activities that have been taken under the MoU, it added.

For the overall development of handloom industry, which plays an important role in the country’s economy, the initiative is aimed to augment the production of handloom fabrics by way of setting up market linkages, to boost innovation in techniques and designs for improvement in the designing capability, diversification of products and value addition, better accessibility to domestic as well as export markets so that the weavers can get continuous work and enhance their living standards.

The Dollar Business Bureau - Jun 23, 2017 12:00 IST