Home / Knowledge / News / Textiles / Innovation necessary in Indian textile sector: FICCI meet
Innovation necessary in Indian textile sector: FICCI meet
26
Nov '14
Innovation is necessary in the Indian textile industry, speakers at the FICCI TAG 2014—the 6th annual conference on textile and apparel industry—said.
 
In his welcome address at the conference themed ‘Driving Growth through Innovation’, Deepak Mukhi, head, FICCI-Maharashtra State Council (MSC), said India ranks at 76th position among 143 countries in the global innovation index 2014. This certainly suggests that lot of efforts are required to be made in R&D and product development.
 
In his address, Suresh Kotak, chairman, subgroup on Textile & Technical Textiles, FICCI – MSC, urged the textile industry entrepreneurs to put efforts to make the Indian textile industry innovative and take it to the new of heights of success.
 
In the theme presentation, Prashant Agarwal, joint managing director, Wazir Advisors, discussed about the importance of innovation in today’s business. According to him, it is now the right time for every textile company in the entire value chain to focus on innovation to achieve business excellence.
 
Dilip Jiwrajka, managing director, Alok Industries, said textile companies should invest in innovative technology, which will ultimately result in offering right product at right price—very important for a company’s profit.
 
In a panel discussion on ‘Product, Process and Systems Innovation – The Success Mantra’, eminent persons from different sectors discussed about the various innovations taking place in textile and apparel industry around the globe from fibre to finished goods stage. The panellists deliberated on how innovation is the backbone of success in changing global scenario and how their companies have innovated product, process or systems to remain competitive and contemporary.
 
In another discussion on ‘Achieving Excellence in Today’s Competitive World’, panellists discussed about the competition in the export and domestic market and how successful manufacturers have grown their market share through a core strategy to excel.
 
In the last session speakers talked about the ‘Role of Technology to Improve Productivity and Product Quality’. With increase in manufacturing costs globally, businesses are focusing more on enhancing productivity to improve the bottom line and new technology is playing key role in achieving it, they said.
 
The conference concluded that innovation is necessary, and not a choice, in this competitive world and companies would have to build innovative culture. Secondly, the textile industry needs to act as one unit and the entire value chain should come together to raise their agenda in a single voice.
 
Thirdly, companies should look at the needs of customers to know what to innovate and work backward accordingly. As a country, India is not less innovative in nature, but it needs to be leverage further. Lastly, technology is for survival, so companies should use the latest and innovative technology to be competitive in the market.
 
A white paper on “Driving Growth through Innovation” prepared by FICCI and Wazir Advisors was also released during the conference. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Top executives
Textile industry

GST has levelled the playing field to an extent

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search