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25 Jul 2024, Edition - 3299, Thursday

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India can outperform China in the coming years: ITF

Covai Post Network


Thanking the Centre for extending a special package to Made-ups sector, Indian Texpreneurs Federation (ITF), a textile industry body in the region, today said that with estimated size of $96 billion of global home textile market, India can outperform China in the coming years with this support measure.

This measure, on the back of the special package for apparel sector, will help to increase the market share of home textile market globally, ITF Secretary, Prabhu Dhamodharan said in a statement here.

For the past few years, Made-Ups exports was in uptrend on year on year basis particularly India’s share in US market increasing steadily with the current share of 17 per cent, he said.

With this enhanced duty drawback rates to cover State levies along with increase in capital subsidy and reforms in labor laws, the industry can expect a solid growth in investments in this sector, Prabhu said.

Stating that the growth of made ups sector was directly linked with the Indian SME weaving sector, he said that many weaving clusters can grow and upgrade to next level of technology parallelly.

“We are extremely happy to witness continuous focus and support by the government to various segments of textile manufacturing sector and industry is confident of creating further huge employment opportunities to many rural youths particularly women and textile sector will be the ideal example for success of “Make In India,” Prabhu said.

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