He was speaking to the textile and garment industry after releasing the vision statement document for the India Cotton Mills Federation (ICMF), in New Delhi.

In this document (issued in 2005) the ICMF has estimated that the Indian Textile Industry has the potential to reach US $ 85 billion by 2010, from its current US $ 36billion, at an annual growth rate of 11%.

2.4 Vision Statement of the Indian Cotton Mills Federation. (Ref 3)

By 2010, the Indian Textile and Apparel Industry can achieve a potential size of US $ 85 billion with:

• a domestic market of US $ 45 billion

• exports of US $ 40 billion (6% of share of global textile trade)

• 60% of the exports as garments

• a contribution of 35% to Indias total export basket.

• the creation of over 12 million jobs
• 5 million through direct employment in the textile industry
• 7 million in allied sectors.

2.5. A Review of the Indian Textile Industry from Within

The Chairman of the ICMF, Dr. B. K. Krishnaraj Vanavarayar has presented an excellent summary of the current situation of the Indian Textile Industry (Ref 4).

We may summarise the following pointers from Dr. Vanavarayars first edition of Textile Times; (Ref 5).

2.5.1 Neglect in the Indian Textile Industry

• The Indian Textile Industry has been a Pioneer industry, providing a generation of resources upon which other industries have benefited.

• The industry has been (relatively) neglected in the period from 1970 1992, as the profitability of the industry has been continually eroded

• This erosion has been due to measures taken by the government in order to protect the cotton growers, large labour force and consumers.

2.5.2 Future Prospects

• The recent liberalisation measures (Ref2) have presented the Textile Industry with a golden opportunity to retain lost glories.