Vice President - Business Development Colorant
Indian textile industry is the second-largest employer after agriculture
The Indian textile industry contributes around five per cent to the overall Gross Domestic Product of the country. Technologies like spinning, weaving and processing remain its strength. NN Mahapatra, vice president - business development of Colorant discusses the strengths and problems facing the Indian textile industry with Fibre2Fashion.com
What is the size of the Indian textile industry? Where do you see it, five years from now?
The Indian textile industry is estimated to be around US$ 108 billion. It is expected to reach US$ 223 billion by 2021. The industry is the second-largest employer after agriculture, providing direct employment to over 45 million people. About 60 million people are employed indirectly.
What is the percentage contribution of the textile industry to the country's Gross Domestic Product (GDP)?
The Indian textile industry contributes approximately five per cent to India's GDP, and 14 per cent to the overall Index of Industrial Production (IIP).
What effect will the Trans-Pacific Partnership (TPP) pact have on the Indian textile industry?
The TPP is a trade agreement among 12 Pacific Rim countries. It was signed on 4 February 2016 in Auckland, New Zealand after seven years of negotiations. The 30 chapters of the TPP Agreement concern many matters of public policy and the stated goals of promoting economic growth, supporting creation and retention of jobs and enhancing innovation, productivity and competitiveness. It also concerns raising living standards, reducing poverty and promoting transparency, good governance, and enhanced labour and environmental protection.
How has Make in India benefitted the Indian textile industry?
The Prime Minister of India Shri Narendra Modi introduced the Make in India concept to give a red carpet welcome to business entities from all over the world and invite their cooperation. The main aim is to invite these business entities to invest in the Indian manufacturing segment. The government is trying to simplify rules and regulations to invite foreign investors. It has identified 25 key areas to push matters forward. One of them is textiles.
What changes to existing government policies will enhance the growth of the Indian textile industry?
More tax rebates, less import duties on modern machinery and new fibre policies supporting farmers are some changes that can enhance the growth of the Indian textile industry.
What is the existing manufacturing capacity of the Indian textile industry?
India's spinning capacity and weaving capacity are second only to those of China. But the processing sector has to be increased further.
Which technologies rule the Indian textile manufacturing sector?
Spinning, weaving and processing are the age-old technologies in our textile industry. We will have to improve the nonwoven sector, technical textile sector and inkjet printing technology, among other verticals.
Published on: 07/03/2016
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
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