India's textile value chain needs robust partnership with ASEAN: Textile Min
United News of India , Jan 23, 2018
To leverage country’s strength in textile value chain, Minister for Textiles Smriti Irani on Tuesday urged ASEAN industry to set up manufacturing bases in India to cater to the domestic market and exports.
“India offers a one-stop textiles sourcing hub for ASEAN countries and they could take advantage of it. Partnership between India and ASEAN was crucial for improving the standard of textile manufacturing and providing wage opportunities in both regions,” said the Minister while addressing the India-ASEAN: Weaving Textile Relations show, celebrating 25 years of India-ASEAN relations, organised by FICCI in association with the Ministries of Textiles and Commerce and Industry.
The Minister, in the presence of ASEAN Ministers, released a Coffee Table Book titled, 'India ASEAN Textiles: Weaving Relationships'.
Sandip Somany, Senior Vice President, FICCI and Vice Chairman & MD, HSIL Ltd., stated that FICCI in partnership with the Ministry of Commerce and Industry conceived of a project to celebrate India-ASEAN relationship with special focus on the traditional textiles industry, coinciding with the celebration of 25-years of India-ASEAN relationship during the Commemorative Summit. The project is a part of official programme of the Government of India.
The session was also addressed by Dr. Jyotsna Suri, Past President, FICCI and Chairperson & MD, The Lalit Suri Hospitality Group and Ms. Ritu Beri, Founder, The Luxury League.
Anant Kumar Singh, Secretary, Ministry of Textiles, stated that India was strong and competitive across the entire value chain starting from raw materials to finished products. With a strong multi-fibre base with an abundant supply of raw materials like cotton, wool, silk, jute and man-made fibres, India enjoyed a distinct advantage of backward integration which many countries do not possess.
Mr. Singh noted that despite the operation of the FTA in goods with the ASEAN, India's exports of textiles and apparels to ASEAN have virtually been constant in the last few years and have not shown much traction.
"Though India has the unique advantage of having the presence of the entire textile value chain, its most exported items to ASEAN consisting of cotton fibre, cotton yarn and fabrics have not grown to the desired extent. This makes it evident that we have not been able to explore and leverage the strengths of our textiles industry to the fullest," he noted.
He stressed the need for a robust framework for export of textiles and apparels between the two sides to give a fillip to trade.
Mr. Singh said that ASEAN countries have a unique position in the regional value chains and offer a gateway for market access to China, North East Asia and the EU for India through their various trade agreements. Furthermore, there exists an opportunity for ASEAN textile manufacturers to invest in manufacturing in India to cater to both the domestic market and exports, he said, adding that the scope for
investment in India was immense in the entire value chain of synthetics, value added and speciality fabrics, fabric processing and technical textiles.
Dato Ramesh Kodammal, Co-Chair, ASEAN India Business Council & Chairman, Goldtex, Malaysia, said that the strength of textile bonds between ASEAN and India could be gauged from the fact that whatever was used by the people in the ASEAN region had an input from the Indian textile industry. This relationship was not just limited to cloth but extended to yarn, weaving, dyeing, machinery and the people connect.
He urged the textile industry on both sides to work together and cash in on the demand from the huge middle class in the two regions.
Need for early conclusion of balanced Regional Comprehensive Economic Partnership to boost India-ASEAN trade & investment: MoS for Commerce