Prime Minister Narendra Modi called upon exporters to focus aggressively on textile exports stating that India is uniquely placed in terms of availability of raw materials and skilled manpower across the value chain, while urging states to take steps to promote clothing diversity in the global market.
“India is a producer of cotton, jute, silk and man-made fibres. It is also the second-largest exporter of textiles. Time has come to focus on exports in a big way,” Modi said on the inaugural day of the three-day Textiles India 2017 exhibition that began at Mahatma Mandir in Gandhinagar on Friday.
Aditya Birla Group chairman Kumar Mangalam Birla said that India can fill the vaccum created by China. "China’s exports have dropped by $20 billion and can further decline upto $50 billion. We can utilise this opportunity to make India the textile capital of the world," he said.
Modi also claimed that Indian textiles market is slated to grow rapidly, from $85 billion at present to $160 billion by 2025, on back of the rising middle class. He reiterated a series of steps taken by his government to improve the business climate in the country. These include allowing 100% FDI through automatic route in textiles and apparel sector. He also said that the government's industry-friendly initiatives like repealing of 1,200 "outdated laws" and carrying out of 7,000 reforms have resulted in India becoming a preferred investment destination.
While laying emphasis on promoting local traditional art, the PM said that we should formulate an action plan to study and map the requirements of people in large global markets and monitor new trends in fashion and textiles in these areas on a real-time basis. He also called upon the industry to stress on research and innovation in textiles to grow and tap new markets.
Highlighting the importance of textiles, the PM said that it is a link between agriculture and industry, and hence its growth is directly linked to rising income of farmers.
Besides Modi, Union minister of textiles Smriti Irani, Union minister of state for textiles Ajay Tamta, Arvind Ltd CMD Sanjay Lalbhai, Raymonds chairman Gautam Singhania, and US Polo CEO David Cummins, among others, were present at the event.
With agencies
