India, which is emerging as a global textile hub and aims to be a $350-bn industry by 2025 from $137 bn now, needs to focus on man-made fibres to stay globally competitive, according to Dilip Gaur, Chairman of the Confederation of Indian Industry (CII) national committee on textile and apparel. Gaur is also the Managing Director of Grasim Industries.
India also needs to create trade barriers for China to prevent it from dumping cheap textile products in the country, Gaur said at the recent CII Texexcel 2019, the National Textiles 4.0 Summit in Mumbai. The Indian textile industry should change its approach to move into the second growth phase with focus on quality and other aspects and aim for exports of around $100 bn from the current $40 bn, a news agency quoted textiles Secretary Ajit B Chavan as saying at the summit. Companies should also look at reducing carbon footprints so that India can present itself as a competitive manufacturing nation, said Prashant Agarwal, Joint Managing Director of Wazir Advisors.