Texprocil, the first Export Promotion Council set up in India in the year 1954, responsible for promoting cotton textile exports from India has released an Ernst & Young report – “Textile Industry as a Vehicle of Job Creation for Inclusive Growth” which states that the Indian textile industry with its low cost of operation could create a huge social impact in the country.
The main objectives of the study, as stated by R. K. Dalmia, Chairman, Texprocil, are to map the top 20 textile products in demand in major importing countries in comparison to what India is supplying to these markets and thereby analyse reasons for mismatch in demand & supply, if any, and chalk out suitable corrective action to be taken up by the industry.
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Another objective was to work on the finalisation of the FTA’s with EU, Australia and Canada in addition to negotiation of concessional tariff with China to highlight the impact of business being lost to other competing countries owing to tariff disadvantage faced by the Indian suppliers. Thirdly, this study was done to clearly bring out the employment potential of the textile sector, especially in rural India.
In her address, the Chief Guest of the function Rashmi Verma, Secretary Textiles said that this study report was released at a very appropriate time considering that all schemes and proposals which are placed before the Ministry and Cabinet have emphasis on job creation while hopeful of achieving US $ 50 billion in exports in the current fiscal as compared to US $ 38 billion exports last year.
The study was done by conducting primary research in various production centres and also by one-to-one meetings with manufacturers and exporters of fabric and home textiles in small, medium and large scale sectors. The points figured in the survey would certainly be considered while framing future proposals, schemes, programmes, policies, etc. for the betterment of the Indian textile industry.
