Globalisation has created possibilities for the fashion and textile industries, which should be taken advantage of by focusing on branding and marketing, according to Lahore Chamber of Commerce and Industry President Mian Tariq Misbah, who spoke at a seminar on Tuesday.
The conference on “Latest Trends & Collaboration in the Fashion and Textile Industry” was hosted by the LCCI. Pakistan, according to Mian Tariq Misbah, is Asia’s eighth-largest exporter of textile products, fourth-largest producer, and third largest user of cotton.
According to him, the textile industry employs 40% of the entire workforce and accounts for 46% of overall industrial output. It accounts for around 60% of overall exports. It contributes 8.5 percent to the national GDP and directly and indirectly employs about 15 million people, he added.
Tariq Misbah said that fashion designing and textile industry has become an important component of national trade because of its export potential. The fashion and textile industry has tremendous depth to get a huge share in the international fashion market that is worth billions of dollars.
He claimed that Pakistani businesspeople had made a name for themselves in the local fashion sector by creating a variety of brands. “Women entrepreneurs are crucial in propelling our industry to new heights. Pakistan may capture a large portion of the fashion industry’s export market if it can attract international customers, he added.