Global fabric manufacturing companies, producing mainly manmade fibre (MMF)-based fabric, can invest in India. India’s dependency on import for the same and Government support are two biggest factors attracting the foreign companies.
Aspiring to have a slice of US $200 billion global MMF, Indian apparel exporters have sought help from international MMF fabric suppliers to overcome the shortage of the fabric, in the short run, and also to improve the quality of local production of the fabric eventually.
India has abundant production of yarn, but is in short supply of good quality MMF fabric as domestic producers lack the latest processing technologies.
Dr. A. Sakthivel, Chairman, AEPC, said, while addressing webinar on ‘MMF Fabric Sourcing from International Suppliers’ of Apparel Export Promotion Council (AEPC), “We are ready for a joint venture or technology transfer or 100 per cent investment. There are production facilities in India but they do not have the latest technologies in processing. Even the Government has come out with good incentives like plans to set up seven mega textile parks and PLI to promote MMF production.”
He further added that AEPC will make all arrangements to facilitate any technology transfer, joint venture or direct investment in the country.”
Dr. Sakthivel assured the international MMF fabric suppliers who expressed their interest in knowing the details about the benefits offered by the Indian Government and what AEPC could do to help them out. “We want to import fabric from you all and we expect it at international price, so that we can manufacture MMF garments and export out of India,” he added.
Vinit Neb, Director, TR Alliance Co. Ltd., Taiwan; May, Business Head, Wuyue Textile Group, China; Mukesh Sharma, Head (Sales), HAE FA Textile Group, Taiwan; Girish Shah, Director, Chang Zhou Miao Zhou Trading Co Ltd, China are few of the companies that participated in the event.