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Union Textiles Secretary Ravi Capoor has urged the stakeholders of the Indian textile industry to focus on the value-added manmade fibre (MMF) and the technical textiles segment, scale up operations and go for indigenous textile machinery manufacturing facilities to emerge globally competitive in the post Covid-19 phase.
Also read: India urges Bangladesh to import ethnic garments at zero duty
Delivering the keynote address at the 62nd AGM of the Confederation of Indian Textile Industry (CITI), Capoor said: “Studies reveal that in 10 years, the share of MMF-based textile and clothing products will account for 80 per cent of the total, while that of cotton-based products will shrink to 20 per cent. The industry here should gear up to meet the growing global demand. The market is huge, more so due to geopolitical issues and scaling down of textiles and manufacturing activities by China.”
The Textiles Secretary felt that the Least Developed Countries (LDCs) would not have the wherewithal, which in turn could be advantageous for the industry here.
Also read: Textile industry told to diversify to polyester to boost exports
He advised the industry to utilise the MSME segment to cater to the low value added markets in the domestic sector, invest in forward and backward integration and greenfield projects to emerge competitive at the global level — be it in pricing, volume, quality or delivery schedule.
The industry should also look to utilise schemes such as Mega Textile Park and National Textile Fund, reduce dependency on extra-long staple cotton imports by entering into long term contract farming and focus on speciality cotton, he added.
The Government, he said, is contemplating extending the special export package for the top 40 MMF HS lines and 10 technical textiles HS lines. “The global market is estimated at over $250 billion, and India’s share is a minuscule, less than 1 per cent in these HS lines,” he added.
CITI Chairman T Rajkumar in his inaugural address appealed for a special package to boost cotton consumption.
New office bearers of CITI
T Rajkumar, Chairman, Sri Mahasakthi Mills, Palakkad, Kerala was re-elected CITI Chairman, while SK Kandelia, President & CEO, Sutlej Textiles and Industries, was named Deputy Chairman and RL Nolkha, Chairman, Nithin Spinners, Bhilwara as the Vice-Chairman.
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