Home / Knowledge / News / Textiles / Govt requested to give incentives to textile industry

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


Must ReadView All

Pic: Shutterstock

Retail | On 21st Sep 2021

US clothing stores sales up 0.1% MoM, 36.6% YoY in August: NRF

Retail sales in the US increased during August as consumer demand...

Pic: Shutterstock

Apparel/Garments | On 21st Sep 2021

Research paper urges Kenya to cultivate new export markets

To diversify its exports and markets, Kenya should endeavor to raise...

Pic: Shutterstock

Textiles | On 21st Sep 2021

Pakistan's textile & apparel exports rise 28.67% in July-Aug ’21

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Thomas Ong P S, NanoTextile

Thomas Ong P S
NanoTextile

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Reynu Taandon, Label Reynu Taandon + Nikhita

Reynu Taandon
Label Reynu Taandon + Nikhita

Renowned womenswear designer <b>Reynu Taandon </b>has been serving the...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search