The Confederation of Indian Textile Industry (CITI) is getting ready for a future expanding beyond the next 5 years, envisaging a flourishing textile sector till 2047, matching with “New India’s” recognition of aspirations. CITI Chairman Rakesh Mehra shared the industry’s resolve, expressing, “The textile industry is working out an action plan not only for the pressing future but for the long term until 2047. We are committed to nurturing innovation, sustainability, and comprehensive growth within the sector, despite the current challenges,.”
He emphasised the urgent need for collaborative action, while admitting the sector’s current subdued performance both domestically and in exports. He shared, “The textile industry has faced challenges on many fronts, including geopolitical uncertainties, changing consumer preferences, and strong competition from other sectors. Nevertheless, there is a unified sense of urgency to undo this trend and push the industry towards a more hopeful future.”
CITI recently greeted facilitation measures intended at reducing the burden on exporters, including necessities exempting inputs from compulsory Quality Control Orders (QCOs). Mehra expressed gratitude for these initiatives, stating, “These exemptions will offer much-required relief to exporters, setting up a robust foundation for attaining the target of US $ 100 billion textile & apparel exports by 2030.”
Furthermore, CITI underlined the importance of trade agreements in increasing the industry’s global footprint. Mehra stated, “The recent India-European Free Trade Association (EFTA) Agreement is a prominent milestone, offering enhanced market access and developing growth opportunities. Our cooperation with Swiss Textiles further strengthens our pledge to pushing bilateral trade and collaboration.”
Looking forward, CITI highlighted the significance of schemes like the PM Mega Integrated Textile Region and Apparel Parks (PM MITRA) program, the Production Linked Incentive (PLI) Scheme, and the Scheme for Capacity Building in the Textile Sector (SAMARTH). Mehra advised the new Government to ensure effective completion of these schemes to encourage investment and capacity building in the industry.
