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ITAC 2006 to be held at Hilton Towers, Mumbai
12 Apr '06
2 min read
Leading global apparel and textile industry majors to meet at the Fourth Technopak International Textile & Apparel Congress 2006 (ITAC 2006) to discuss how to compete successfully and profitably in the global market post quotas. ITAC 2006 is being held in Mumbai on April 20-21, 2006 at the Hilton Towers.
Since the abolition of textile and apparel quotas in January 2005, world trade in the segment has undergone a number of changes, presenting buyers with almost limitless options in sourcing from the most efficient and cost-effective vendors across the globe. For suppliers it is now stiff global competition driven by low costs and new legislation.
Commenting on the opportunities for India, Harminder Sahni, COO, Technopak Advisors Pvt. Ltd said: “By 2010, textile and apparel trade is expected to cross US$ 650 billion. In the first one year since abolition of the quota, Indian textile and apparel exports increased by 19 percent, from US$13.5 billion to US$ 16.5 billion, coming in second only to China.
With the impact of globalization, retailers are looking to work differently with suppliers. After China, South Asia comprising of India, Pakistan, Sri Lanka and Bangladesh, are emerging as key sourcing destinations. As we move into a more competitive arena, we need to revaluate our resources, tools, human resource management and information technology in order to facilitate a growth in business. India needs to strive towards gaining a large piece of that share.”
Since the abolition of textile and apparel quotas in January 2005, world trade in the segment has undergone a number of changes, presenting buyers with almost limitless options in sourcing from the most efficient and cost-effective vendors across the globe. For suppliers it is now stiff global competition driven by low costs and new legislation.
Commenting on the opportunities for India, Harminder Sahni, COO, Technopak Advisors Pvt. Ltd said: “By 2010, textile and apparel trade is expected to cross US$ 650 billion. In the first one year since abolition of the quota, Indian textile and apparel exports increased by 19 percent, from US$13.5 billion to US$ 16.5 billion, coming in second only to China.
With the impact of globalization, retailers are looking to work differently with suppliers. After China, South Asia comprising of India, Pakistan, Sri Lanka and Bangladesh, are emerging as key sourcing destinations. As we move into a more competitive arena, we need to revaluate our resources, tools, human resource management and information technology in order to facilitate a growth in business. India needs to strive towards gaining a large piece of that share.”
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