Robin Anson, Editorial Director, Textile Intelligence, Economic Intelligence Unit (EIU), while outlining the Indian Textile industry's future said, 'Opportunities are there for everyone. To compete and survive, Indian entrepreneurs need to focus, innovate, identify strengths and capitalize on them.'
According to Anson, the new quotas of the US and EU are designed to protect their own industries. 'However, as price remains an issue, it is not the EU and the US but India that is gaining from these new quotas,' he said.
In terms of risk rating, the EIU ranks both India and China at par and at the top of the list, followed by Pakistan.
S P Oswal, Chairman, CII National Committee on Textiles, while making suggestions to the Minister on behalf of the industry said, 'power forms a major percentage of the cost after raw material. A quick calculation reveals that there is difference of 8 percent in profitability on account of power cost, which makes Indian textile operations much less competitive and profitable.' He urged the Minister to protect the interests of the textile industry through appropriate policy and fiscal measures.
Confederation of Indian Industry
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