ENA Sectors 2024-07-12 13:25:23 <p><span style="font-size:14px"><strong>New Delhi, Jul 12 (KNN)</strong> The Indian Texpreneurs Federation (ITF) has presented a comprehensive growth plan for the textile and apparel sector to Union Textile Minister Giriraj Singh, advocating for significant policy changes to enhance India's global competitiveness in the industry.</span></p> <p><span style="font-size:14px">In a report submitted to the ministry on Wednesday, the ITF, led by convenor Prabhu Dhamodaran, outlined several key recommendations.</span></p> <p><span style="font-size:14px">These include increasing monthly apparel exports beyond the current USD 1.5 billion, developing a ready-to-cut dyed fabric ecosystem, forging knowledge partnerships with leading man-made fibre (MMF) producers, and re-engaging with traditional markets such as Japan.</span></p> <p><span style="font-size:14px">The federation emphasised the potential for India to capitalise on the China-plus One strategy adopted by global buyers.</span></p> <p><span style="font-size:14px">Noting that China's monthly apparel exports currently stand at USD 12 billion, the ITF suggested that India could steadily improve its export performance through focus on scale, competitiveness, specialisation, integration, and market diversification.</span></p> <p><span style="font-size:14px">To enhance efficiency and cost-effectiveness, the ITF proposed the development of a ready-to-cut dyed fabric ecosystem within India.</span></p> <p><span style="font-size:14px">The report also stressed the importance of creating semi-integrated and integrated manufacturing capabilities to handle large-volume commodity apparel exports.</span></p> <p><span style="font-size:14px">Addressing India's current 2 per cent market share in the USD 35 billion U.S. MMF apparel market, the ITF recommended establishing knowledge partnerships with countries specialising in MMF production.</span></p> <p><span style="font-size:14px">The federation also suggested implementing similar collaborative initiatives within Indian manufacturing clusters.</span></p> <p><span style="font-size:14px">These proposals come as the textile industry seeks to adapt to changing global market dynamics and strengthen India's position in the international apparel trade.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38569 https://knnindia.co.in/news/newsdetails/sectors/itf-advocates-major-policy-changes-to-enhance-textile-industry-competitiveness 2024-07-12 13:25:23 knnindia.co.in