Textile manufacturers present growth plan to central government
COIMBATORE: The Indian Texpreneurs Federation (ITF) has urged the Union government to make several changes in the textile policy.
The ITF demands include increasing apparel exports from the current $1.5 billion per month, building a ready-to-cut dyed fabric ecosystem in India, knowledge partnership with leading producers of man-made fibre (MMF) and engaging with traditional markets like Japan.
An ITF team led by its convenor Prabhu Dhamodaran presented a growth plan for the Textile and Apparel sector to Union Textile Minister Giriraj Singh on Wednesday.
"India can utilise the China-plus One opportunity in apparel exports and improve the current monthly run rate of $ 1.5-billion apparel exports steadily. On a comparison basis, China's monthly rate of exports currently is at $12 billion in apparel alone. Scale, competitiveness, specialisation, integration and diversification of markets are the themes for the growth," ITF said in the report presented to the ministry.
The ITF urged the ministry to build a ready-to-cut dyed fabric ecosystem in India to improve efficiency and cost competitiveness. Also, it highlighted the need for the creation of a semi-integrated and integrated manufacturing ecosystem to handle the large-volume commodity apparel exports.
"To grab more market share from the current 2% in the US MMF apparel market valued at $ 35 billion, we need to create knowledge partnerships with MMF-specialised countries and also do similar exercises within Indian clusters," ITF said.