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New technologies, investments, compliance to aid industry growth

New technologies investments compliance to aid industry growth MaguTechnology is making big strides across the global apparel industry.  However, India lags behind countries like Vietnam and Cambodia in the adoption of these technologies. “Around eighty percent of our players own medium to small units. They need to be directed in terms of increasing their exports. They also need big plug and play workstations to operate their businesses,” says HKL Magu, Ex-Chairman of AEPC.  

The investment required for this trade is not easy to absorb.  “To avail of this investment, we need to exploit available technologies and upgrade our operations,”  opines Magu. One of the factors that ails this industry is increasing competition. “To survive, we too need to more competitive. However, this is only possible if our production increases,” he adds.  

Compliance is also increasing. Most of the factories, especially those in the international areas are becoming safety and environment-complaint.  “Without compliance, even smallest of our importer would not be in a position to take order,” states Magu adding, “It’s also a time to be sustainable. We need to be sustainable in order to grow in this industry.”

The Prime Minister has also called for certain suggestions from the industry which it plans to duly incorporate in the upcoming budget. 

 

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