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Govt requested to give incentives to textile industry
14
Jun '10
The government has been requested to provide incentives for the textile industry players, so as to help them expand their current spinning capacity, so that they can gather all the probable foreign exchange inflows, which they are losing owing to, exports of huge quantities of lint in the raw form.

According to the National Economic Consultative Forum (NECF), the textile industry provides a number of chances for investment that can help the country's economy grow. Therefore, the need to improve the industry's spinning capacity, so as to add value to lint before exporting, is the need of the hour.

Industry experts suggest that, the government should provide an incentive for the current players, to help then diversify the country's spinning capacities, plants and machineries, so that Zimbabwe can then process atleast 70 percent lint, that is now exported in the raw form.

Currently, setting up of five new spinning plants has already been put forth. This will lead to increase in value-addition sector, thereby, generating more employment and expanding the country's export capacity, said NCEF members.

During the period 1990-2000, knitted and crocheted apparels accounted for one of the fifty fastest growing goods in the global trade, and therefore, value addition in processing cotton was a necessity.

However, in order to receive higher amount of returns from this area, NCEF suggested that country needed to invest in both capacity building and modern weaving equipments.

More so, job opportunities in apparel production were tremendously high, as skilled personnel will be required to manufacture for both export and local markets, said NCEF.

The current public clamor against the stringent competition from imported apparels, was partly the result of huge volumes of manufacturing of garments by external competitors, who later profited hugely from the economies of scale, originating from their low-cost exports to Zimbabwe.

NCEF concluded by saying that, if the expected growth in cotton production is matched with that of diversification of the country's ginning, spinning and weaving capacities, then a groundwork will be laid for developing factories to manufacture garments for all.

Fibre2Fashion News Desk - India


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