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Pakistan's FCCI to set up textile corner
26
Apr '17
Courtesy: NTU
Courtesy: NTU
The Faisalabad Chamber of Commerce and Industry plans to establish a textile corner in its research and development cell to help the textile sector to adopt and upgrade new technology with the help of the experts of the National Textile University (NTU). An earlier memorandum of understanding between FCCI and NTU has been upgraded to facilitate this.
 
According to the new memorandum of understanding, FCCI and NTU will jointly arrange awareness sessions for the benefit of textile manufacturers. Dr Tanveer Hussain, Rector NTU, said that technology upgradation was a continuous process to survive in the competitive international markets. 
 
A cheque of Rs 0.5 million was presented to NTU by FCCI to carry out the research activities and bring a qualitative improvement in the industry-academia linkage. A delegation of FCCI has visited NTU to discuss different opportunities regarding research and development and capacity building.
 
Textile is the biggest industry of Pakistan which earns foreign exchange of $12 billion per annum for the country. Out of it, $6 billion is contributed by the exporters of Faisalabad, president of FCCI Muhammad Saeed Sheikh said. However, textile exports have been declining for the last many years due to international recession coupled with energy crisis and inconsistent domestic policies, he added. 
 
This was an alarm bell and eye opener for the economic managers which demands immediate remedial measures, he said.
 
Industry-academia linkage is imperative to survive in fast changing economic scenario. In order to bridge the widening gap between industry and academia, FCCI and NTU have agreed to set up a textile corner which will provide guidance to the exporters to adopt new technologies in order to improve the quality of their products. It will also help in sensitising businessmen to promote value-addition and earn more profit from their exportable surplus. 
 
A few major industrial concerns have established their own dedicated research and development sections to develop new and innovation products. (SV)

Fibre2Fashion News Desk – India


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