Textile industry to promote 'Made in India' brand, Mr Maran
22 Jun '09
2 min read
The Union Government plans to put in place a National Fibre Policy (NFP) by this year end. Speaking to reporters in Mumbai after interacting with representatives from the Textiles industry, Union Textiles Minister Mr. Dayanidhi Maran chalked out a three-pronged strategy to bring the textile sector back on the 7- 8% annual growth path and generate employment for one crore people.
The Textiles Minister said that the industry, which has had a number of segments with each of them at loggerheads with others, needed to come together and work towards a National Fibre Policy (NFP). The Minister said that the Fibre Policy would put in place a framework, remove various discrepancies and distortion in the textile sector and pave way for growth of the domestic industry and exports. The textile industry has been facing problems on account of various structural and fiscal anomalies, high cost of credit/interest, high rate and poor quality of power and outdated labour laws.
Secondly, the Minister highlighted the need to develop the 'Made in India' brand and diversify textile markets beyond US and EU countries. Mr Maran said “The USA and EU 27 markets are brand driven, and through branding we will be able to create a niche markets for Indian textiles products and ensure higher value realization per unit.”
Calling upon the Industry to diversify beyond its traditional exports markets, Mr. Dayanidhi Maran said, “there is an urgent need to broaden our product mix and explore new markets.However, we should maintain and increase our share in core markets through product innovation and diversification.” Currently 60% of India's exports of textiles and over 70% of clothing are to the USA and 27 EU markets.
The Minister assured of all help to the Industry in this regard. “We will extend you helping hand to seek opportunities in the new markets, for promotion of Made in India Brand, to withstand competition from our neighboring countries, and overcome protectionist measures being adopted by developed countries”, Mr. Maran told the industry representatives.
Thirdly, Mr. Maran said that the textile industry needed to focus on the domestic market. The Textile Minister said that government was trying to boost domestic consumption, which would in turn increase the demand for the textile sector.