The next 10 years will be a good time for the textile industry and the players must seize the opportunity available in the sector. There is an anticipated growth in the internal as well as export market for the textile industry, Manikam Ramaswami, former president of the Confederation of Indian Industry, Tamil Nadu, and leading textile industrialist, said here on Friday.
Addressing the members of the CII, Karur Chapter, Mr. Ramaswami said the textile industry should acquire international competitive edge. “If 25 per cent of global yarn exports are out of India, then why not show the same competitiveness in fabric or textile export too?” he said.
Mr. Ramaswami, considered an excellent orator, said in the next three years the aim should be to capture at least 40 per cent of the global yarn exports and achieve a 10 per cent market share in the cut and sewn items by looking for new and emerging markets that had better potential for a sustainable trade activity.
If there was no export competitiveness then the industry would lose its domestic market also, Mr. Ramaswami cautioned and expressed the optimism that the industry would rise to the occasion. The fact that they would buy where the article was cheap was bound to pep up the textile industry which must wake up to the fact that global competitiveness held the key to its success.
Industries need to foster and develop coastal cargo trans-shipment to bring down logistic cost. Logistics cost in India was far higher compared with other developed or developing nations and that did not augur well for competitiveness. “We are road dependant but we must encourage coastal cargo movement,” he said.
Similarly there was an urgent need to bring down the cost of power transmission, he said and added that the aim would be achieved in another year when the transmission grid would be upgraded to 22,000 KW capacity.
Mr. Ramaswami urged the Centre to reconsider its zero duty policy for the least developed nations that competed with India in the same line of exports for protecting Indian exporters.
CII Karur chairman S. Susindran, Karur Textile Forum president M. Sivakkannan, Karur Exporters Association president Atlas M. Nachimuthu, and CII Karur chairman-designate N. Rajasekaram spoke.