Looking back at the 60 years of Independence, we see many crucial milestones in every field and industry, from Nehru's 5-Year-Plans to Dr Manmohan Singh's Economic Liberalization movement in 1991. Today's India is breaking through international barriers and reaching unscaled heights. Yes, India is creating waves around the world. Developed countries may hate it or love it, but they just cannot ignore India.
Textile has been one of the pillar industries of India's success chart. Fibre2fashion approached some key players to get their views on what lies in the future.
E Palanisamy, MD, Armstrong Knitting Mills says, "Availibility of raw materials and labour has been the key to textile industry's growth. Today, this industry is capable of maintaining reasonable growth even when cotton cultivation is much below the requirement level."
Govind Joshi, Company Secretary, KPR Mills says, "Imposition of restrictions on imports from China by the US and EU countries has been a boon to Indian textile industry. Outsourcing from major international players, strong domestic demand, global concentration have also given a thrust to the industry."
Sudhir Poddar, Senior Manager of Garment Division at RedTape, said that retail and clothing industry is blooming. Consumer today is aware of the latest fashion and thus, brands are getting promoted. New generation comes under middle and high-income group which considers luxury products a necessity.
Manoj Mishra of Entrepreneurship Development Institute of India (EDI) agrees and says that enhanced market linkages and better work conditions have also added to the development. However, he urges, "Handloom sector needs to be encouraged. Poor returns have forced skilled weavers to shift to other sectors in order to make profits. It is important that they are motivated to retain their profession."
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