Focus on cotton textile segment, brining all textile products under Remission of Duties or Taxes on Export Product (RoDTEP), new schemes to benefit local manufacturers, especially MSMEs, and giving a boost to greener production are among the wish list of textile industry for the upcoming Budget.
The cotton sector is the second most developed sector in the textile industry, with cotton yarn and fabrics exports accounting for about 23 per cent of India’s total textiles and apparel exports.
However, exports of cotton textiles are declining drastically according to Ujwal Lahoti, executive chairman of Lahoti Overseas Ltd. "Cotton yarn exports declined by over 30 per cent year-on-year. The situation on cotton textiles exports front is now gloomy, so we need support from the Government on this matter."
"A new scheme RoDTEP was supposed to go into effect from January 1, 2020, but it is yet to be implemented. We urge the government to include all textile products across the board under this umbrella scheme, which will further restore India’s share in global markets,” Lahoti told Fibre2Fashion.
Though the Government is promoting indigenous comprehensive capabilities, more needs to be done in the sector, feels Smarth Bansal, DGM-Product Management, ColorJet. “We expect the government to empower indigenous manufacturers by training them with all-inclusive skills. Although, there are schemes like Amended Technology Upgradation Fund Scheme (ATUFS) and Export Promotion Capital Goods (EPCG), more needs to be done for the local manufacturers to help them better compete with their international counterparts, especially in China.”
The Indian textile industry is set to be valued at $250 billion by end of the year 2020 and with a unified trajectory the sector can propelled further to new heights. Simultaneously, the industry is marching towards greener production in terms of sustainable products manufactured with green energy. "Expectation of consumers is growing with the products they purchase. Manufacturing everything green with continuous upgraded fashion requirement needs capacities to produce multiple products under one roof, which is possible only with MSME units. Due to the current slowdown, MSME’s have reduced their production capacities and are struggling to survive. Hence, the government needs to focus not just only in-terms of offering incentives but making sure, they are being delivered in time to the right industry,” says Akhilesh Taparia, CEO, Go Green Textiles India.
"Focus on MSMEs will generate immediate employment opportunities and will surely contribute in improving India’s economic condition,” adds Taparia.
Fibre2Fashion News Desk (WE-DD)
| On 15th Apr 2021
IFC, a member of the World Bank Group, is supporting the garment...
| On 15th Apr 2021
The import of textiles and apparel by the United States decreased by...
| On 15th Apr 2021
The Vietnam Textile & Apparel Association (VITAS) and Amazon have...
Still struggling to mop up higher sales
Fashion tech has to be lean and very productive
Great step towards realising end goal of 'AtmaNirbhar Bharat'
Established in 2018, Forsarees is a socially driven business enterprise,...
Danitech was born from the will of a group of technicians to offer the...
It manufactures and retails menswear garments in India under the brand...
Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively
Functional Fabric Fair is a trade-exclusive event showcasing the latest...
EDANA has been the leading global association and voice of the nonwovens...
Hula Global, a leading isolation gown manufacturer in India, has been...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Vidur Adlakha & Riccardo Bennidini
With an active presence in US, Italy and India, clothing brand La Fuori...
Sailesh Singhania Label
The Sailesh Singhania label was created to promote handwoven sarees and...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.