Government and industry must cooperate to create Brand India in textiles: report

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Government and industry must act as a combined force to build Brand India in the textiles and clothing sector, according to a report.

The joint CII-Kearney report suggested that the government should focus on putting in place key catalysts to attract investment in the domestic textile sector and optimize operations such as better market access and cost competitiveness while at the same time creating a favorable business environment.

The report also highlighted the need for industry players to adopt global best practices in terms of manufacturing competitiveness, improved service levels, design capabilities, innovation and the need for more ‘investments in sustainability and traceability.

He also pointed out that to meet the export target of $ 65 billion from $ 36 billion in 2019, India will need to carefully strategize in five key areas, including clothing, fabrics, home textiles. , synthetic fibers and yarns and technical textiles.

The report calls for targeting a $ 16 billion hike by capitalizing on China Plus One sentiment. India is well positioned on this point, thanks to its relatively significant strategic depth compared to Vietnam or Bangladesh.

In addition, he recommends a $ 4 billion jump by positioning India as a regional fabric hub, starting with cotton fabrics and then expanding into other subcategories.

The report also suggests setting a target for an increase of $ 4 billion by building on existing advantages to expand global customer base, and targeting a jump of $ 2.5 billion to $ 3 billion with a focus on the acquisition of shares in MMF (artificial fiber) products. .

Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said: “India’s textile industry is one of the largest manufacturing sectors in terms of employment. To realize its full potential in the global market, strengthening the textile industry value chain and expanding market access is a must.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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