India Development News & Foreign Investment Opportunities

Maha to set up nine textile parks

Industry urged to harness potential

0

Industry urged to harness potential

 

 

Maharashtra will set up nine more textile parks in the state and become skill exporter over the next five years, especially benefiting from incentives given under the government’s new textile policy.

Stating this, Maharashtra’s Minister of State for Textiles, Arjun Khotkar, highlighted the success of Nandgaonpeth Textile Park at Amaravati in the state.

The parks will be on a theme “cotton to cloth, farm to fashion”, he said at the 10th edition of Annual Textile conference ‘FICCI-TAG 2018’ held in Mumbai on 2 Nov 2018.

“Currently, we import 8,000 metric tons of raw silk due to higher demand and shortage of silk production in India. However, Maharashtra alone will be able to wipe out this deficit and export raw silk in next 4-5 years,” he assured.

Ajit B Chavan, Secretary and CEO, Textiles Committee, added: “Climbing up the quality value chain and ensuring complete compliance to domestic and international requirements of sustainability is the only key to success for the Textiles industry of India.

“The sooner industry learns and accepts it; faster would be the process of harnessing its rightful potential.”

Khotkar also released the FICCI-Wazir Advisors report on Building a New Age Textile Industry during the seminar.

The report outlines the need for achieving growth through innovation & technology and Aligning Textile Value Chain with Global Demand for increasing share of India’s export in total global trade.

It also highlights that the textile and apparel market in India will grow at a robust pace due to multiple growth drivers, which are changing Demographic dividend, Increasing Consumer Prosperity, Emerging New Categories for Consumption, Growth of Technical Textiles, Increasing Penetration of Organized Retail, Positive impact of GST in long term and Increasing exports to USA amidst slowdown in China’s exports. fiinews.com

Leave A Reply

Your email address will not be published.