The CII makes suggestions to improve textile and clothing exports

19th February 2022, Mumbai:

The Confederation of Indian Industry (CII) has made proposals to boost India's textile and garment exports. The CII, India's premier business organization, collaborates with Indian industry, government, and civil society to establish and maintain an environment that promotes India's growth.

According to the CII's recent research, Achieving USD 1 Trillion in Merchandise Exports by 2030: A Roadmap, India forecasts an expanding trend of integrated manufacturing hubs, with end-use items accounting for 88 percent of overall trade value growth over the next five years.

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With garment exports estimated to account for 90% of this increase in trade value, India will need to over-index on apparel exports. According to the research, India could be positioned as a regional fabric hub centered on cotton wovens.

India should aim for a 5% to 6% market share in worldwide woven (natural) commerce.

Other fabric categories (MMF-based wovens and knits) might be added to India's fabric basket as the country's capabilities improve, making it Asia's go-to destination for fabric procurement.

According to the research, a dedicated task force should be established to increase foreign direct investment outreach efforts by reaching out to the relevant investors and promoting India as an excellent investment location.

"Improve factor cost competitiveness in the power sector by policy-driven actions to enhance the amount of renewable energy, such as raising renewable energy subsidies or pushing more states to implement open banking of renewable energy, hence lowering renewable energy consumption limitations."

"Branding all new textile parks as 'green parks,' with the majority of energy coming from renewable sources, maybe a huge step in the right direction," it stated. Continuous investments in sustainability and traceability are becoming critical requirements from global consumers, according to the report, and might be India's most significant differentiators.

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*Figures mentioned in the above article have been sourced from Apparel Resources article.