The much awaited conclusion of FTA with the UK is expected to boost the textile industry. “We must scale up the indigenous textile technologies and modern machines through R&D and innovation.
It is a matter of pride for Tamil Nadu, Coimbatore and India,” Commerce and Industry Minister Public Distribution said at the 11th edition of a global congregation of leading players of the Asian textile industry, input suppliers and service providers —
ATEXCON in Coimbatore which has drawn attention to key areas of business, including regional as well as global issues concerning this sector.
The initiative by the Confederation of Indian Textile Industry (CITI) brought together the entire textile value chain to discuss the issues and roadmap of the Indian textile industry which has achieved significant leap in exports culminating in delivery of about 776 billion worth of textile goods around the world during 2022-23. This is an increase of about 55 per cent in a span of just two years. What has also emerged from ATEXCON deliberations is that the Indian textile industry is primarily concentrating on the supply chain, made up of the 5Fs farm to fibre, fibre to factory, factory to fashion and fashion to foreign and has improved as a result of investments made in a number of departments, particularly research and development, which has enhanced the general performance of the fabrics used in the textile sector.
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