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Product Development, Digitalization, Niche products & world class R&D institutions way forward to reposition India in Global Textile value chain: Textile Industry Experts
Jan 15, 2021
MUMBAI, 15 January 2021: Mr Ajay Arora, Managing Director, D'decor Home Fabrics Pvt. Ltd today said, "Digitalization across value chain is the key to growth and competitiveness in textile industry in India. It increases the interaction with buyers and allow companies to work closer to consumer through e-commerce."
Addressing 'FICCI TAG 2021, 12th annual Textile and Apparel Conference' on the theme 'Repositioning Indian Textiles and Strategizing for Growth in the Post-COVID World', Mr Arora further added that given the huge local market of 1.3 billion people, Indian companies should focus more on domestic market, achieve scale, and gradually look at exploring export opportunities as we become globally competitive in due course.
Mr R D Udeshi, President, Polyester Chain, Reliance Industries said, "Indian textiles industry has revived post-COVID with the help of new product segments in knit-based industry as focus on comfort wear has grown among users substantially."
He further suggested that if Indian companies need to achieve the scale then end to end approach is required and it needs to be supported by world-class R&D institution set up in public private partnership.
Mr S K Gupta, Advisor and Board Director, Raymond Ltd said, "Cotton is our strength; we should not lose focus on same. While proactive product development is the key to growth, sustainability along with compliance can create huge differentiation for India among global peers."
Mr D Ghosh, Vice President- Sales, Oerlikon Textile India Pvt Ltd said, "Synthetics industry growth is the key and India need to increase the share of manmade fibers in the country to increase share of Indian textile industry in global market. India can also look at collaboration with neighbouring countries across supply chain to give push to textile industry's growth."
Mr Prashant Agarwal, Jt. MD, Wazir Advisors Pvt. Ltd said that India needs to reposition itself through anchor led model, which will involve MSME's to develop scale. Complete digitization of supply chain will make Indian companies more competitive and give services as per buyers need, he added.
Mr Ajay Sardana, Joint President & Head - Corporate Affairs, Grasim Pulp & Fibre Business said that creating sustainability across supply chain and adopting collaborative approach is the way forward for the textile industry's growth.
Mr G V Aras from ATE Enterprise suggested that the country needs to broaden its product basket to increase global footprint and look beyond US and EU for growth. Home textiles, technical textiles, cotton and synthetic knit goods will be the front runners to provide desired growth and newer opportunities, he said.
Mr Gunish Jain, CEO, Bluekaktus shared the importance of digitalization in the textile and apparel industry and the way companies are adopting advance technologies to address future opportunity areas.