Bangalore, Feb 16(UNI) Union minister of state for Planning M V Rajashekaran has exhorted the Indian Textile operators to give focus on modernising the Apparel manufacturing process to attract world market and sustain the growth.
Delivering his valedictory address a national seminar on 'Strategies for Growth of Indian Apparel Industry' an academic and industry perspective, organised by the Bangalore University here today Mr Rajashekaran said that India was poised to attain world leader in the Textile and Apparel market.
"To retain its position as a major player at the global level the manufacturing sector in Apparel industry especially in the area of weaving and spinning needs to be modernised" he said.
Stating that India has set a target of achieving a turnover of 115 billion USD by 2012 including 60 billion USD worth of domestic textile and apparel market the minister said that there was a need to invest over 37 billion USD in the Indian Textile industry.
He said that country was blessed in raw materials,particularly cotton, silk and large pool of human resources which needed to be harnessed for the betterment of all. Despite this advantage the country's share of exports of ready made garments in the world clothing trade remains poor.
"The lack of linkage between the different sectors needs to be addressed besides improving the supply chain management and putting in place the required infrastructure facilities" Mr Rajashekaran said.
If the country's export in textile and clothing was to be increased from the present four per cent to seven per cent,the minister urged all the stake holders to devise strategies to achieve it. He said that 14 million new direct jobs could be generated besides earning revenue to the country."The weakening of US Dollar, increasing competition fromcountries like China, Bangladesh, Indonesia and Honduras had posed a big challenge to the Indian textile and apparel industry" Mr Rajashekaran said.
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