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Opportunity for Textile Industry to Grab Chinese share in Developed Market: Secretary, Textiles
Covid 19 pandemic has opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US, says the Textile Secretary
Photo Credit : Umesh Goswami
Ravi Capoor, Secretary, Ministry of Textiles, said that COVID-19 has affected the global market conditions but has also opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US.
Addressing the inaugural session of the three-day ‘GLOBIZ – Global Textile & Home Furnishing Expo’, organized by FICCI, Capoor said that this is the most promising time for the textile industry in India due to strong consumption in the domestic market as well as the growing demand for exports.
“Various countries are looking at Indian markets and it’s the time to gear up supply chains, quality and deliver at the promised schedules, which will enable India to become a market leader,” he added.
Capoor also urged the industry to work towards tapping the unexplored global markets. “We are concentrated on few markets only. We should expand in the markets where India was never present and virtual Shows like GLOBIZ help to do that. This is the time for the textile industry to increase its market share and take advantage of the international markets,” he added.
Capoor further said that all stakeholders including FICCI should plan a huge outreach program in new areas like the LAC, Japan etc. “There are challenges in the apparel industry, but the home furnishing sector has the potential to almost double its exports within two years,” he noted.
Elaborating on the government’s plan to promote the sector, Capoor shared that the Textile Ministry is planning a ‘Textile India Fair’ which will be the largest virtual fair globally, with over 30,000 buyers expected from different countries.
Rudra Chatterjee, Chair, FICCI West Bengal State Council & Chairman, Obeetee Group said the demand for home textile has not abated. He said that as we look at the online sales platform, the meaning of B2B and B2C has changed as the manufactures can directly ship their products to the customers which require new logistics and design capabilities, and needs to be developed by the industries.
He further said, India has the technological and product capability to host an international trade fair as mentioned by the Textile Secretary. Chatterjee also urged the government to partner with the industry to train the weavers, especially in the category of handmade carpets and textiles.
Dilip Chenoy, Secretary-General, FICCI, said, we want to continue our association with the ministry of textile and support the textile industry and we expect to increase research in this area which will provide us with a more meaningful edge globally.