Singh calls on industry to take full advantage of shifts in global markets
The Government has set a strong aspirational goal of achieving US$100 billion from textiles exports in the next 5 years, a Minister has said, reiterating the country’s commitment to ensure implementation of all development schemes while offering more schemes.
The Government has already announced MITRA scheme to attract new investments and build mega textile parks in the country while other significant programs including the launch of PLI scheme for achieving manufacturing excellence and RoDTEP for enhancing export competitiveness will help India to position it as a global leader in the sector, said Darshana Vikram Jardosh, Minister of State for Textiles.
The Minister spoke at the inauguration of TEXCON: The 13th edition of the International Conference on Textiles & Apparel organized by the Confederation of Indian Industry 21 Oct 2021.
A special CII-Kearney report was also released on “Creating a competitive advantage for India in the global textiles and apparel industry”. The report covers the entire textile value chain and highlights the imperatives for both government and industry to bring global positioning for the sector.
Speaking on the occasion, Ministry of Textiles Secretary Upendra Prasad Singh said that the Government is making all efforts to proactively address the challenges and facilitate the creation of an enabling environment for the growth and development of the Textiles and Apparel sector.
“We are capable to meet the domestic as well as the global market demands. I would like to urge the industry to take full advantage of the present global market shifts in establishing the excellence and prominence of India globally,” Singh said.
Achieving breakthrough growth in Indian textiles will imply doubling down on multiple areas, added Dilip Gaur, Chairman, CII National Committee on Textiles and Apparel & Managing Director, Grasim Industries Limited, Aditya Birla Group.
The key ones include increasing share in MMF fiber and yarn, become regional leaders in apparel and fabrics and further augmenting India’s position as global home textiles leader.
“The Government has already shown strong commitment to this sector by launching multiple mega schemes in recent times which set a very positive tone for the future and to energize all industry stakeholders to take necessary steps forward in achieving the goals,” Gaur noted.
“The growing sentiment around ‘China plus one’ sourcing is a golden opportunity for Indian textiles to stage a turnaround and gain back its leadership position as a lead exporting economy,” said Kulin Lalbhai, Co-Chairman, CII National Committee on Textiles and Apparel & Executive Director, Arvind Ltd.
India, he underlined, is much better placed to maximize this opportunity as compared to competitors like Vietnam and Bangladesh because of India’s strategic depth of understanding the sector. #investment #manufacturing #exports /fiinews.com
