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22/10/2021 10:47am

MSMEs has key role in achieving $ 100 bn textiles and garments export target

image MSMEs has key role in achieving $ 100 bn textiles and garments export target

New Delhi, 22 Oct (KNN) The Ministry of Textile has set a target of USD 100 billion exports of textiles and garments over next five years.

This move comes as a strategic response to the ongoing commotion in the Chinese economy, as they lose their share in the textile market with buyers not depending on China anymore. For India this is a perfect opportunity to tighten its grip in the textile industry.

MSMEs constitute majority share of businesses involved in the textile sector, hence the Government should facilitate MSMEs in being a significant part of achieving this goal by further boosting manufacturing units and other key areas.

“It’s an ambitious target and to achieve it Government requires to frame a comprehensive plan. This will require massive investment, which also needs equal efficiency from all stakeholders,” opined Dr. Animesh Saxena- Manging Director Neetee Apparels- a leading garment exporter and President of Federation of Indian Micro and Small & Medium Enterprises (FISME).

Pressing on the need for a comprehensive plan, Saxena tells KNN that the administration must clear bottlenecks that hamper smooth functioning of the industry which involves infrastructure of fabric making, logistics and custom clearance.

“The peak season for textile industry is observed from October to April, however we tend to see a crunch owing factors such as air pollution in North India which impacts the productivity as processing house remain shut down. These issues also needs to be addressed to achieve the 5 year target” pointed out Saxena.

The Indian textile and apparel sector, with USD 37 billion exports and USD 85 billion domestic consumption, is one of the largest employers in the country. Every USD 1 billion additional exports in apparel manufacturing can create 1.5 lakh new jobs.


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