Union Textile Minister Kavuru Sambasiva Rao is of the view that the current Indiaâ€™s annual production level of textile goods which is $90 billion is likely to increase to $220 billion by 2020 with China to divert its focus to other sectors.
Mr. Rao participating at the sixth convocation of Sardar Vallabhbhai Patel International School of Textiles and Management, to inaugurate the PSG-SIMA Textile Technical Training Institute and release the SIMA GKD-1 cotton seed in Coimbatore on Saturday. He told presspersons that China has 33 per cent share in the global textile market and Indiaâ€™s share is just 4.5 per cent. It is said that with higher wage cost, China is diverting its focus to other sectors. This is an opportunity for Indian manufacturers.
The Ministry is ready to support the industry in training initiatives. It is also focusing on modernization of the powerloom sector. The country has 23 lakh powerlooms and just 1.05 lakh shuttleless looms. The industry needs to import shuttleless looms and importing 20 lakh looms will be worth $ 400 billion. Hence, local textile machinery manufacturers should take up production of shuttleless looms. It will reduce the cost of the machinery too. The industry should collaborate with the developed countries for technology and the Government will extend support.
Industry should take up research and development and skill training. Associations such as SIMA should form joint ventures with overseas companies for testing and certification facilities.
B.K. Krishnaraj Vanavarayar, former chairman of Southern India Millsâ€™ Association (SIMA) and Confederation of Indian Textile Industry (CITI), said that the industry needs raw material, technology, trained manpower and policy support from the government for growth and development.
Sanjay Jayavarathanavelu, Chairman and Managing Director of Lakshmi Machine Works, said that Coimbatore is known for the ecosystem that supports the textile industry. The growth started several decades ago with cotton cultivation and development of the ginning industry.
L. Gopalakrishnan, Managing Trustee of PSG & Sons Charities, said that there is a gap between training needs of different segments of the textile industry and the training provided.
T. Rajkumar, chairman of SIMA, said the industry needs consistency in policy. The Government should release subsidy under the Technology Upgradation Fund Scheme for the September quarter at the earliest.
Earlier, speaking at the convocation he said that students should be encouraged to be innovative.
The institute should have more overseas collaborations, practical training, and courses. Students should design innovative machinery and the industry should support them.
This will bring down the production cost and make the industry competitive. Indiaâ€™s share in global textile trade is expected to increase to 15 per cent in two years.
The Ministry has requested the Centre to set up warehouses for Indian exporters in Latin American countries will be help them to store their goods there to supply to buyers in these countries.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
Countries Served Worldwide