14 June 2022, Mumbai:
The Indian textile industry plays a significant role in the country's economy. Apart from providing one of life's most basic requirements, the textiles sector also plays a vital role in the country's industrial production, employment generation, and export revenues.
It accounts for around 14% of the industrial output, 4% of GDP, and 17% of the country's export revenues. Over 35 million people are directly employed as a result of it. After agriculture, the textiles industry is the second largest employer. As a result, the expansion and overall development of this business directly impact the nation's economy.
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The Indian textile industry's distinctive structure stems from a heritage of tax, labor, and other regulatory laws that supported small-scale, labor-intensive businesses while discriminating against larger-scale, capital-intensive companies.
The structure is also attributable to India's historical focus on fulfilling the requirements of its native consumers, mostly low-income, rather than the global market.
Significant gains in technical efficiency and international competitiveness have resulted from policy reforms that began in the 1980s and continued into the 1990s, particularly in the spinning sector.
However, more reforms are still needed to improve India's weaving, fabric finishing, and clothing industries' efficiency and competitiveness.
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The textile ministry holds a very systematic website wherein all the details about the Indian textile are published as well as reported, and along with that, several grievances are addressed, and several important steps are undertaken.
Day-to-day activities and news are regularly updated on the website.
The ministry also closely monitors all the things that are happening at several textile outlets. Increases or decreases in price, changes in production units, the introduction of new raw materials, withdrawal of any material, or addition and subtraction of any information are actively posted on the website.
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The Ministry of Textiles actively connects throughout the world. Anyone in and across the country can get any information that they require by just clicking on the website. The ministry has tried to make the process as transparent as possible so as to promote the textile industry in and across the world, at large.
The colossal event, according to Textiles Minister Smriti Zubin Irani, would span the full value chain. The event is expected to attract between 800 and 1,000 Indian exhibitors, as well as 2,500 international buyers and 1,000 Indian high-volume retail buyers.
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International exhibitors will be welcome to participate in the exhibition.
The Common Umbrella Brand would be created for the Indian textiles industry by showcasing products from fiber to fashion at the Indian Pavilion, holding roadshows in conjunction with the event, and hosting 'India Eve' (B2B Meetings) after the event's business hours.
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The show will also feature a Technical Conference titled Advantage India, Sourcing Destination for the World, which will bring together renowned national and international speakers and delegates to establish India's relevance in global textile sourcing, discuss key issues, and chart a course for high growth.
The conference will also cover topics such as skilling, branding, fundraising, and technological advancement.
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