Generate global competitiveness to take on rivals from Bangladesh and Vietnam, textiles secretary Upendra Prasad Singh

9th September 2021, Mumbai:

As is widely known that there is some space been vacated by China in certain Textile categories: PLI would essentially take care of the disability our companies face from foreign competitors because of several reasons not so effective FTAs done in the past Or labour/ currency arbitrage advantage enjoyed by our competing nations.

It will also help generate economies of scale (EOS) capabilities in the sector facilitate Indian companies compete with rivals from Bangladesh and Vietnam, alludes textiles secretary Upendra Prasad Singh.

He also emphasized why the Textile sector takes primacy in the Indian economy. He outlined that Textile is 2nd largest employer and generates maximum gainful employment per crore investment across sectors. Textile contributes 2.3% to Indian GDP, 7% of the Industrial Output, 12% to the export earnings of India and employs more than 45 million people which is 21% of total employment.

Also, India is the sixth-largest producer of Technical Textiles with a 6% Global Share.

Cotton production supports 5.8 million farmers and 40 to 50 million people in allied sectors. India being a cotton-producing nation and said to be a tropical country does more than 70% of cotton garments v/s man-made fibre (MMF) garments which exactly is the reverse of the worlds Apparel trade is.

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