COVID-19 offers opportunities for Indian textiles industry to grow exports
Mr. Ravi Capoor, Secretary,
Ministry of Textiles, Govt. of India, has said that while COVID-19 has adversely affected global market conditions, it has also opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US.
Ministry of Textiles, Govt. of India, has said that while COVID-19 has adversely affected global market conditions, it has also opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US.
Addressing the inaugural session of he three-day ‘GLOBIZ – Global Textile & Home Furnishing Expo’, organized By FICCI, Mr. Capoor said that this is a promising time for the textile
industry in India due to strong consumption in the domestic market as well as growing demand for exports. “Various Countries are looking at Indian markets and it’s the time to gear up supply chains, quality and deliver at the promised schedules,” he said.
industry in India due to strong consumption in the domestic market as well as growing demand for exports. “Various Countries are looking at Indian markets and it’s the time to gear up supply chains, quality and deliver at the promised schedules,” he said.
Mr. Capoor also urged the industry to work towards tapping unexplored global markets. “We are concentrated on few markets only. We should expand into the markets where India was never present and virtual shows like GLOBIZ can help do that.” Mr. Capoor urged all stakeholders,including FICCI, to plan an outreach programme in new areas like the LatinAmerica and Japan. “There are challenges in the apparel industry, but the home furnishing sector has the potential to almost double its exports within two years,” he noted. He added that the Textile Ministry is planning a ‘TextileIndia Fair’, which is expected to e attended by over 30,000 buyers from different countries.
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