SME Times News Bureau | 18 Jan, 2021
Industry experts viewed that product development,
digitalization, niche products and world class R&D institutions are way forward
to reposition India in global textile value chain.
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.
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.
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."
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."
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.
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.
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.
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.