Union Textiles Minister Giriraj Singh on Tuesday announced that the Rs 10,000 crore PLI scheme will be expanded to the garment sector to boost domestic manufacturing and exports.
In his inaugural address at the India International Garment Fair (IIGF) here, Giriraj Singh said that the ministry is poised to revive the Scheme for Integrated Textile Parks (SITP) to create internationally standardised parks.
He emphasised that the government will focus on revamping textile parks and promoting green textiles.
Singh also said that there were plans to make small clusters for smaller players in India to boost the exports of ready-made garments.
The PLI scheme has been a huge success in the electronics sector with India’s production of electronic goods such as smartphones shooting up and even emerging as a major item in the export basket.
The minister urged industry to adopt the ‘hub and spoke’ model to enhance domestic manufacturing of textiles and underscored the importance of establishing Indian brands.
“Developing world class manufacturing facilities is a must for realising the Prime Minister’s vision of ‘Make in India’ with ‘Zero Effect; Zero Defect’ at each level of the value chain,” he added.
The minister said that the International Garment Fair, being held at the Yashobhoomi Convention Centre here, offers a unique marketing platform for micro, small, and medium exporters, showcasing India’s latest trends and diverse offerings to the rest of the world.
“Today, India is one of the fastest growing economies in the world with a GDP growth rate of 7.2 per cent and is expected to be the third largest economy by 2027-28,” he observed.
The convergence of a positive domestic outlook with a growth-orient$ed political establishment has provided a conducive ecosystem for business in India.
Several measures have been taken by the government of India to enhance the infrastructure sector and ease of doing business, he added.
Further, the Minister stated that, the Indian Apparel and textiles market is of the size of $165 billion which has to touch $350 billion; a target, which has been fixed after consulting the industry.
“I request you to take it to 50 billion by 2030. The Prime Minister made a roadmap to promote technical fibre and Geo textiles, which is providing huge options for growth. I have said that my challenge is not Bangladesh. I would like you to take it ahead of China in time to come,” the minister remarked.
Sudhir Sekhri, Chairman AEPC during his address underlined, “the global headwinds negatively affected Indian apparel exports. But despite these adverse scenarios, the Indian apparel export industry was able to hold its own and contain the damage to quite an extent”
Mithileshwar Thakur, Secretary General said that there is a greater chance for Indian apparel exporters to expand its footprint across developed countries in coming years.
The Indian apparel industry must in-cash this opportunity and start dreaming big.
Knowledge sessions are also being organised on the sidelines on the June 25 and 26, covering various topics like Navigating Global Trade.
“More than 600 buyers from 50 countries are participating in the event. The 71st Edition will also host two fashion shows each day, from 25th to 27th June’2024, showcasing the best of the collections exhibited during the show.
