Talking to newspersons after announcing the three-day 'Fabrics and Accessories Trade Show' to be held from June 6 here, he said India was facing severe competition from the emerging Bangladesh and Pakistan in the textile and apparel sector and needed to improve efficiency in manufacturing, innovation in design and cut in cost to edge out competition.
Mr Nitin said the total export from India was to the tune of eight billion US Dollars during 2007, which was almost equal to Pakistan and Bangladesh. As compared to China, India remained way behind as the total export of the former accounted for over 350 to 400 Billion US Dollars, he said.
He said India with its rich human resources and largest tract of cotton growing area could beat its competitors and increase its world share in textile and apparel market by adopting innovative methods in manufacturing and design and cut cost of production by increasing the efficiency.
Referring to the foray into technical textile sector, Mr Nitin said currently Germany, Taiwan and Italy were enjoying leadership in the sector and were willing to outsource their requirements to other countries. ''India need to grab the opportunity in this sector, which has rich potential to emerge,'' he said.
Mr Nitin said lack of infrastructure and failure to reform labour laws and compensate loss arised out of rupee appreciation were among the problems which were plaguing the country's textile and apparel industries. Mr Nitin said top notch buyers and decision makers of the textile and apparel industries worldwide would attend the fifth edition of the Barbvics and Accessories Trade Show in Bangalore. The annual event had become a robust sourcing platform, representing manufacturers and suppliers across the textile value chain.
He said that apart from visitors from the US, the UK, Philippines, Hong Kong, Indonesia, Nigeria, Korea, Saudi Arabia, Morocco, Northern Ireland, a buyer delegation from Sri Lanka and Bangladesh would also attend the 2008 event. ''The purpose of their visit was to identify prospective-supply chain partners in fabrics and garment accessories in a bid to establish long and enduring business relationships.'' he said.
Mr P Krishna Murthy, CEO, S S Media and Marketing, which is organising the show, said last year as many as 3,142 quality trade visitors consisting of Chairmen, Managing Directors, CEOs, owners, partners and senior executives, sourcing managers and purchase managers visited the show and this year the figure may cross 4,000.
The unique fair would offer a mind-blowing collection of fabrics woven by some of India's premier weaving mills and fashion accessories manufactured not only in the country but also from around the globe, he said.