Government urges apparel industry to capture international market amid Coronavirus turmoil
Feb 21, 2020
The Union Government has urged India’s apparel businesses to take advantage of international trade opportunities for the sector, as China struggles with the coronavirus outbreak and sees trade slowdown.
India has seen its textile and apparel exports plateau during recent years but the government is hoping that domestic businesses can tap into new global trade opportunities, especially as trade rival China is struggling with the coronavirus outbreak, ET Bureau reported. On Wednesday, the government promoted the technical textile sector as a growth opportunity and promised to aid the development of expertise in the industry.
“China vacated $20 billion apparel space in the last three years and most of this was in the MMF [man-made fibre] sector,” said the Ministry of Textiles in a statement. “National Mission on Technical Textile will help provide the requisite support to the manufacturing sector to make globally competitive.”
The Export Promotion Council for Handicrafts recently held a symposium on opportunities in the Indian textile sector and highlighted the need for the government to address a lack of growth in the industry’s exports.
“India should step in at this stage to take the advantage although not a good way to project ourselves but every crisis has its own silver lining and I think while we are with China with all our emotions and financial, political and diplomatic help but still there appears to be a big economic opportunity which is coming up our way,” Textiles Secretary Ravi Capoor said at the event, ET Bureau reported.
The EPCH’s symposium took place in New Delhi on February 19 and featured Minister of Textiles Smriti Irani as chief guest, the EPCH announced on Facebook. The event also addressed goods and services tax concerns in the handicraft industry and handloom textiles.
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