Product Development, Digitalization, Niche products and world class R&D institutions is the way forward to Reposition India in Global Textile Value chain with enhanced share: Textile Industry Experts.
MUMBAI, 15 January 2021: “Digitalization across value chain is the key to growth and competitiveness in Textile Industry in India. It increases interaction with buyers in multiple of 5 and allow companies to work closer to consumer through e-commerce. said Mr Ajay Arora, Managing Director, D’décor Home Fabrics Pvt. Ltd. during FICCI TAG 2021, 12th annual textile and apparel conference held virtually.
Mr. Arora further added that given the huge local market of 1.3 billion people, Indian companies should focus more on domestic market, achieve scale and gradually look at exploring export opportunities as we become globally competitive in due course.”
Participants from textiles industry joined the FICCI TAG conference virtually from across the country and deliberated on the theme of ‘Repositioning Indian Textiles and Strategizing for Growth in the Post Covid World’. CEOs from the textile industry deliberated on the revival of demand; opportunity for India; diversification; sustainable manufacturing, R&D, innovation and building global brands.
R D Udeshi, President – Polyester Chain, Reliance Industries said that “Indian textiles industry has revived post covid with the help of new product segments in knit-based industry as focus on comfort wear has grown among users substantially. He further suggested that if Indian companies need to achieve the scale than end to end approach is required and it needs to be supported by world-class R&D institutions set up in public private partnership.
Said Mr S K Gupta, Advisor and Board Director, Raymond Ltd speaking at the panel said that “Cotton is our strength; we should not lose focus on same. While Proactive product development is the key to growth, sustainability focus and compliance can create huge differentiation for India among global peers.”
Mr D Ghosh, Vice President- Sales, Oerlikon Textile India Pvt Ltd said that the “Synthetics industry growth is the key and India need to increase the share of manmade fibers in the country to increase share of Indian textile industry in global market. India can also look at collaboration with neighbouring countries across supply chain to give push to textile industry’s growth.
Prashant Agarwal, Jt. MD, Wazir Advisors Pvt. Ltd said that India needs to reposition itself through anchor led model, which will involve MSME’s to develop scale. Complete Digitization of supply chain will make Indian companies more competitive and give services as per buyers need.
In another session on Capacity building for competitiveness, Mr. Ajay Sardana, Joint President & Head – Corporate Affairs, Grasim Pulp & Fibre Business, said that creating sustainability across supply chain and adopting collaborative approach is the way forward for the textile industry’s growth.
Mr. G V Aras from ATE Enterprise suggested that the country needs to broaden its product basket for increase its global footprint and look beyond US and EU for growth. Home textiles, technical textiles, cotton and synthetic knit goods will be the front runners to provide desired growth and newer opportunities.
Mr Gunish Jain, CEO, Bluekaktus shared is view on importance of digitalization in the textile and apparel industry and how companies are adopting advance technologies to address future opportunity areas.