Indian Govt to enable textile industry to compete with global competition
Source: Confederation of Indian Industry Date: 2006-12-04
Mr Shankersinh Vaghela, Hon'ble Minister for Textiles, Ministry of Textiles, Government of India said the industry would get full support and backing from the ministry when it came to issues that impacted it at CII's (Confederation of Indian Industry) textile summit, ConText 2006: "India Textile Inc - The Business of Textiles", which was held in Mumbai on 1 December 2006.
In his address, he said, "The government's stance is to do everything that would enable Indian industry to compete successfully in terms of Global Competition."
He urged the industry to stop worrying about what China was doing in the global scenario, and instead, focus on what the Indian textile and garment industry could do better.
Where a shortfall or gap existed, he said he would rather the industry saw it as an opportunity and a challenge rather than a negative point. "It is not just the Global market, the industry has opportunities and challenges in the domestic market as well," he pointed out.
Speaking of the year 2010 being the target year to increase production, market share as also exports, he said the ministry would not be found lacking when it came to incentives and initiatives. "The textile parks and technology missions have been positive where the industry is concerned," he said.
Mr Vaghela, making a point on how India would ultimately get a larger share of the Global market, said some countries were making it a point to increase purchases from a democratic country as compared to a controlled economy, and in the long run, this would create an advantage for India.
But this wasn't the entire picture: Indian industry needed to be on par wit the best quality conscious aspect of production, adding that modernization was a must.
In a small example of how the textile industry had made the changeover from a 'sunset' industry to a 'sunrise' industry, the Hon'ble Minister for Textiles gave the example of removal of CenVat, for which a section of the industry had agitated.
He pointed out that he had personally supported the industry's demand, in effect; overruling what the bureaucrats said and ensured that the Hon'ble Union Finance Minister provided the necessary tax benefits.
He termed this as the true essence of democracy, where industry's requirement was given prominence. He concluded by saying he had hopes for far better performance from a re-vitalized Indian textile and garment industry.
Mr. Qaiser Shamim, Joint Secretary, Ministry of Textiles, Government of India spoke of the new era that the industry had entered, one where the quota regime was a thing of the past.
It was an exciting time, he said, quoting a CRISIL study which suggested better days ahead for the industry with faster growth rates, a larger share of the global market and better profitability. "The Indian textile and apparel industry is moving from 'sunset' to 'sunrise'," he pointed out.
