Home / Knowledge / News / Textiles / FICCI moots 2015 policy for textiles & clothing industry
FICCI moots 2015 policy for textiles & clothing industry
09
Feb '10
Recognising the need to turnaround the Indian Textiles and Clothing Industry, FICCI suggested a five year policy to revitalise and restructure Indian textiles industry. The Policy “Indian Textiles & Clothing Industry : 2015” aims to neutralise the impact of economic crisis on Indian textiles industry; diversify our export and domestic market; encourage consolidation of SME enterprises; encourage maximum value addition in the country; deepening fibre consumption of India; building of 20 global brands of India; promote manufacturing of high-tech fibres and technical textiles; encouraging energy efficient and emission reduction technologies; increased indigenisation of textile equipments and increased technological support, FICCI said.

The need for such a new policy arises in the wake of changing global economic scenario in which a number of countries like Vietnam, Bangladesh, Pakistan, Turkey etc are giving fierce competition to Indian textiles and also to provide inherent strength to the industry, FICCI pointed-out. Also, some of these countries have introduced ambitious textiles policies last year only. FICCI said that there is a need to infuse confidence, through policy, in the industry which has suffered the most because of economic crisis and rupee appreciation in the past.

The policy, FICCI said, targets steady growth of 15% per annum of domestic textile industry and 20% per annum growth in our exports for the next five years in order to enable us to double our share in world textiles and clothing exports (Hence the name '20-15' for the policy). FICCI noted that if we are able to achieve 20% growth in our textiles exports per annum and 15% growth per annum in domestic production then our domestic textile market size would be $ 106 billion by 2015 and exports would be around $ 66 billion. Given the long term growth of 7% in world trade in textiles, India's share would be around 6.6% in 2015 at a growth of 20% per annum, which would be almost double of India's current share of 3.4%. FICCI said that the Indian textiles sector's growth has been lagging behind the growth of the manufacturing sector as a whole. In the last six years the average growth of the manufacturing sector was 8.3% whereas that of textiles sector was only 5.3%. During April-November 2009, while the manufacturing sector registered a growth of 7.7%, the textiles sector grew by only 5.8%.

Elaborating the main components of “20-15 Policy”, FICCI said that the growth of garment sector, which has maximum scope for value addition, is today hampered because of number of constraints. FICCI noted that despite the fact that in India the total production cost of ring-spinning and knitting and weaving of ring yarn fabrics are the lowest in the world, India does not have a significant share in value added garments in global trade (only 3%). The suggested policy, according to FICCI, should focus on making India a manufacturing hub of value added garments andensure that country is able to cultivate 20 internationally famous brands. The aim of the policy would be to achieve 15 to 20% share of these branded items in our exports in next five years, FICCI said.


Must ReadView All

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Paolo Ocleppo
Sandvik Hyperion

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Robert Brunner
Devereux

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

August 2017

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
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

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
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

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
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

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
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


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