Textile sector to seek priority status from RBI: Chatterji

Owing to a slowdown in conventional export markets, the textile ministry is negotiating a free trade agreement (FTA) with Japan and is focusing on Latin America to boost Indian textile exports. In an exclusive conversation with CNBC-TV18's Malvika jain, textile secretary Zohra Chatterji said that her ministry is seeking priority sector status from the Reserve Bank of India (RBI).

Below is an edited transcript of her interview on CNBC-TV18

Q: What developments are taking place in the export ministry?

A: We are looking for priority sector lending specially for exports and some flexibility in the labour laws, so that the booming export orders could be serviced at this point.

We have made some headway and hope you will have some positive news in the days to come.

Q: The conventional markets for exports that India has been focusing on are seeing a slowdown. Are there any steps that the ministry is taking to promote exports to other markets?

A: We are actively looking at other markets especially Latin America and in view of the FTA we are also looking at the Japanese market.

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