The Synthetic and Rayon Textiles Export Promotion Council conducted its 66th Annual General Meeting virtually on 30th September, 2020.
At the outset of the AGM, Shri Ronak Rughani, Chairman of the Council thanked Shri Narendra Modi, Hon’ble Prime Minister for his visions towards unfolding the developments in the MMF textile industry and his continued mentorship of the Textile industry. Shri Ronak Rughani, Chairman, SRTEPC also thanked Shri Piyush Goyal, Hon’ble Union Minister of Commerce & Industry and Railways, Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Smt. Smriti Zubin Irani, Hon’ble Union Textile and Women & Child Development Minister for their continued guidance and support for the industry.
During his speech Shri Ronak Rughani, Chairman, SRTEPC talked on issues global economic outlook, textile trade scenario, exports, COVID-19 Opportunities/ Achievements, Interactions with the Government, etc.
On world economic outlook front the SRTEPC Chairman mentioned that COVID-19 pandemic has triggered the deepest global recession in decades. Uncertainty on global recovery remains exceptionally high and a moderate recovery is envisioned in 2021. He also mentioned that the Indian economic growth slowed down to 4.2% in 2019-20, according to data released by the National Statistical Office. Regarding global textile trade scenario, it was mentioned that Global textile & clothing trade has declined by 1.6% in 2019 as compared to 2018, whereas global MMF and MMF blended textiles trade has grown by around 2% during 2019 vis-à-vis the previous year. Regarding exports, SRTEPC Chairman Shri Ronak Rughani informed that during 2019-20, exports of Indian Textiles & clothing declined by 6.82% from US$ 37.50 billion to US$ 34.22 billion. Exports of MMF & MMF blended textiles witnessed a decline of 3.89% during 2019-20 vs 2018-19. Exports of Indian MMF textiles during the first quarter (April-June) 2020-21 were US$ 577.09 million against US$ 1455.25 million during the same period of the previous year, witnessing a decline of 60.34% due to COVID-19 pandemic. The SRTEPC Chairman mentioned that there have been green shoots in exports as exports have started picking up slowly, but to come back to the pre-COVID level, it will definitely take a lot of efforts.
On COVID-19 pandemic opportunities vs achievements SRTEPC Chairman Shri Ronak Rughani mentioned that though COVID-19 has given tough times and challenges, it has also opened up opportunities for many. In the current COVID – 19 pandemic crisis, there have been some breakthrough innovations made by some of Esteemed SRTEPC Members in the fabrics and Medi-tech segments.
Regarding interactions with the Government, mainly with the Ministry of Textiles, Ministry of Commerce & Industry and Minister of Finance, some of the major issues that were taken up with the different Ministries were viz., to allow exports of Non-wovens, masks, PPE Coveralls, etc. rationalisation of inverted duty structure in the MMF segment and implementation of Fibre Neutral policy and treat MMF textiles at par with natural fibres, inclusion of fibre, yarn and fabrics also under RoSCTL, continuation of MEIS benefits, inclusion of entire MMF textile value chain under the RoDTEP Scheme, GST refund on Capital goods import/ domestic procurement to encourage more investment, consider job work/ services like weaving, knitting, processing, embroidery and other value additions as manufacturing and allow ITC/ refund, support for creation of global Indian textile “Brands”, handholding support to the exporters to establish foothold in new markets and establishment of special textile cells in the Commercial wings of the Indian Missions, focus on promoting R & D and innovations, conclusion of effective FTAs with major textile consuming countries, etc. Shri Ronak Rughani, Chairman, SRTEPC mentioned that some of the issues that have already been addressed in favour are Extension of MEIS benefits till end of December 2020, removal of export ban on non-wovens, masks, PPE coveralls, etc.
Regarding export promotion initiatives the SRTEPC head mentioned that SRTEPC has very successfully organised its flagship show “Source India 2019” in Mumbai where over 100 Indian textile companies displayed their latest range of Indian textiles items at Bombay Exhibition Centre from 21st to 23rd August 2019. 170 Foreign buyers from 40 countries visited the Event. Source India 2019 has been the leading Manmade fibre textile fair in India. He also mentioned that besides participation in several important international textile fairs, SRTEPC also mounted a High-Level Textile Delegation to Uzbekistan from 19 to 22 October 2019. The objective of the Delegation was to explore the possibilities of expanding the Indian MMF Textile exports to Uzbekistan, mutual cooperation between the countries in MMF textiles and meet the leading importers of Man-Made textiles.
In his speech Shri Ronak Rughani, Chairman SRTEPC acknowledged Shri Piyush Goyal, the Hon’ble Commerce and Industry and Railway Minister, Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance and Smt. Smriti Zubin Irani, Hon’ble Union Minister of Textiles for her their hand holding support, guidance and understanding of the problems being faced by the MMF Textile Sector. Shri Rughani also thanked Shri Ravi Capoor, Secretary (Textiles), Dr. Anup Wadhawan, Commerce Secretary, Dr. Alok Chaturvedi, D.G.F.T and other senior Government officials for active guidance and support towards the industry. Shri Ronak Rughani also thanked Shri G. K. Pillai, Chairman of the Drawback Committee and welcome Shri G. K. Pillai, Chairman as the newly constituted RoDTEP Committee.
