Textile can turn a $300-bn industry by 2030: CII official
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The Indian textile industry can turn a $300-billion industry by 2030 and generate 35 million jobs, according to Hari Thiagarajan, Tamil Nadu council vice chairman of the Confederation of the Indian Industry (CII), who said this is possible if the industry enhanced its focus on exporting more value-added products, modernisation and sustainable business practices.
Synthetic fabrics and performance garments are going to be the two most promising segments, Thiagarajan pointed out. He was speaking at the second edition of Weaves 2019 in Erode.
The industry accounted for 5 per cent of India’s gross domestic product (GDP) and 13 per cent of the country’s export earnings and employed about 50 million people, a news agency report quoted him as saying.
Confederation of Indian Textile Industry (CITI) chairman T Rajkumar said though global recession is a main factor for the setbacks faced by the industry, imports of yarns, fabrics, and garments from Bangladesh and SAARC region pose a major threat to the domestic industry.
Weaves 2019, a premier textile fair in south India, is a four-day exhibition and conference, organised by Texvalley in association with the CII.
Source: https://www.fibre2fashion.com
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