Confederation of Indian Industry (CII) has come up with recommendations to enhance textiles and apparel export from India.
Premier business association, CII partners Indian industry, Government and civil society to create and sustain environment conducive to development of India.
In its latest report, Achieving USD 1 Trillion Merchandise Exports by 2030: A Roadmap, CII said that India expects an increasing trend of integrated manufacturing hubs, and hence, the share of end-use products in total trade value growth over the next five years is forecast by 88 per cent.
With 90 per cent of this absolute jump in trade value expected from apparel exports, India will need to over-index on apparel exports.
The report suggests positioning India as a regional fabric hub pivoting on cotton wovens. India must target to gain a 5 to 6 per cent point share of global woven (natural) trade. Once India ramps up its capabilities in other fabric segments (MMF-based wovens and knits), the same could be added to the fabric basket to make India the go-to destination for fabric sourcing in Asia.
The report insists on creating a dedicated task force that can boost foreign direct investment outreach efforts by reaching out to the right investors and pitching India as the ideal investment destination.
“Optimise factor cost competitiveness in power through policy-driven initiatives to increase the share of renewable power, such as increasing subsidies on renewable power usage or encouraging more states to adopt open banking of renewable power, thus reducing limits on the use of renewable power. Branding all new textile parks as ‘green parks’ (where the bulk of power is consumed via renewable sources) could be a significant gesture in this direction,” it said.
It adds that continual investments in sustainability and traceability are becoming key expectations from global customers and could be India’s most important differentiators.
