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'Investments in MMF can boost Make in India programme'
29
Oct '15
FICCI and management consulting firm Wazir Advisors have said that investment in man-made fibre based industry is an attractive proposition for the Make in India programme. The call came at FICCI's 7th annual conference on textile and apparel industry 'TAG 2015' on the theme 'Beyond cotton: Developing Excellence in MMF based textiles' in Mumbai.

Manoj Patodia, Member, FICCI, in his welcome speech outlined that the share of polyester fibre in Textile and Apparel industry has gradually increased in the recent years from 34 per cent in 2000 to 38 per cent in 2014. This pattern is expected to remain in growth phase as an alternate to cotton.

“FICCI has already sent its representation to Government of India for promoting consumption of man-made fibers to reduce the huge gap between man-made fibres and cotton,” Patodia said

Wazir Advisors Joint Managing Director, Prashant Agarwal said, “The investment in man-made fiber based textile value chain will help in successfully implementing 'Make In India' initiative for textile sector This will help in reducing the dependability on MMF based fabric imports worth $1.2 billion and make India a self-sufficient country in MMF-based textiles."

Kavita Gupta, Textile Commissioner, Ministry of Textiles stressed on the need of R&D in the textile and apparel industry, which needs to be addressed collectively and in time-bound manner.

"The government is also focusing on skill development and the industry should come forward to work hand in hand with government on this area," Gupta said.

She also informed the conference that the government will open textile commissioner's office in each state, which will help industry to interact with the ministry on regular basis.

R D Udeshi, President (Polyester Chain), Reliance Industries Ltd in his special address said that the growth of manmade textiles is playing an important role in the textile industry. He said, since Govt of India is aiming to grow the size of Indian Textile & Apparel industry from $110 billion to $400 billion, the input for such size from MMF will also multiply and hence required immediate attention on its development as cotton only may not be able to fulfill that demand. (SH)

Fibre2Fashion News Desk - India


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