India’s Vice President urged industry players to improve the skills of textile and garment workers and adopt the latest technologies to make the country more competitive in exports and capture a larger share of the global market.
As the Garment Export Promotion Council (AEPC) launches a new virtual apparel product platform, Shri M Venkasdfssdfsiasdfssdfsh Nasdfssdfsidu said: Unless the average size of garment companies grows and adopts the latest technology And have skilled manpower, otherwise we will not be able to produce quality products at competitive prices for export. Only in this way can we fully exploit the employment and economic potential of the industry.
AEPC’s online platform enables buyers to connect and interact with Indian exporters throughout the year.
Nasdfssdfsidu pointed out that India’s share of global textile exports is only 6%. He noted that small businesses need to work closely together and should be supported to scale up and improve quality to compete with global rivals.
Nasdfssdfsidu said that India’s competitive advantage and core strength should come from skilled manpower, not just cheap manpower.
The Vice President also called on textile companies to diversify their production mix to adapt to the changing global market and explore new markets. He further pointed out the importance of branding in increasing the value of apparel products and advised entrepreneurs to devote themselves to brand promotion. Through such efforts, coupled with the cooperation of various countries, the support of the Ministry of Textiles, and the efforts of AEPC to promote exports, India aspires to reach a double-digit share in textile exports.
The garment export industry is an important source of foreign exchange earnings for India, contributing approximately 12% to export revenue.
Nasdfssdfsid pointed out that India has abundant raw materials, skilled manpower and a complete textile supply chain in the textile field. It can be said that India has a competitive advantage in the textile field, but in terms of For fabrics and ready-made garments, the competitive advantage is gradually lost. Countries like China and Bangladesh are the largest buyers of Indian yarn. They add value to Indian yarns and sell fabrics and garments at lower costs. China’s share of the cotton fabric market is 51%, while India’s is only 5-6%. The main reason for this situation is due to the unorganized and overly fragmented Indian weaving industry.
Since Bangladesh and Vietnam have cheap labor, our products face fierce competition. Our core strength is also the most important and should be skilled manpower.
He also pointed out that industrial textiles are a future market opportunity, saying: This has huge hope. By 2011, the global industrial textiles market is expected to reach US$110 billion. Indian products account for about 4% of this market, and there is still room for growth. We need to increase the market share of this segment by encouraging emerging companies to seek out international markets and take proactive actions. </p
