The Confederation of Indian Textile Industry hosted the annual conference of the International Textile Manufacturers Federation (ITMF) from 17 to 19 November 2016, in Jaipur, Rajasthan. The event saw the largest gathering of global textile leaders. Held in India after a gap of 14 years, the three-day conference saw participation of over 370 delegates from across the world that included manufacturers, traders, retailers, economists, government officials and policy analysts.
Addressing the conference, the Textile Minister Ms. Smriti Irani said that India has big potential to attract investors and global buyers in this sector as it had a five-thousand-year-old tradition in this sustainable, efficient and transparent industry. She assured the industry that the government was keen in providing smooth and hassle free business environment.
Ms. Irani stressed the huge scope for growth of technical textiles in India, and called on the industry to approach the government with suggestions. “I have hardly seen any segment of the industry that has come forward with suggestions except for Jute. We are ready to discuss issues and find a solution,” she said.
She also asked the industry to invest more on R&D. “If the R&D is not productive, the industry will be isolated. My sense is that R&D will be fruitful if it is backed by industry,” said the minister.
Ms. Rashmi Verma, Textile Secretary in her keynote address, said that the industry needed more technological advancements, and appealed to the investors and entrepreneurs to enhance investment and modernisation to increase productivity, sustainability, and quality in India’s textile goods.
“The growth of textile industry is socially and economically significant in India. Modern technology is the backbone of the industry, and is considered as the biggest challenge for the Industry now”, she said, and highlighted the policy reforms undertaken by the government in ease of doing business, and helping the industry to modernise and improve productivity.
Mr. Tiang Wuan, ITMF President made the opening address to the conference, the theme of which was “Global Textile Economy in the New Normal”. Mr. Naishadh Parikh, Chairman CITI welcomed all the delegates to the conference.
Plenary sessions were held on textile value chain management, sustainability, transparency of businesses, cotton vs. other fibres, technical textile and nonwoven, retail and e-commerce, where experts gave thought-provoking presentations.
“The conference came at a time of many opportunities for the Indian textile industry. I believe the success of the conference has helped in creating a much more positive impression among international players about Indian textile sector, and making the Indian entrepreneurs to be more ambitious in the global reach out,” said Mr. Binoy Job, Secretary General, CITI.
The deliberations at the conference saw the delegates accepting the challenges of the new global economic dynamics to sustain the business by adopting best and innovative business practices. In the backdrop of changing global textile trade and business landscape, India is looked upon as a preferred sourcing and investment destination by western developed markets and emerging industrial economies for textile goods.
The Confederation of Indian Textile Industry represents all the sub sectors of the $100 billion Indian textiles sector that covered the entire textile value chain through its Member Associations, Associate Members and Corporate members.