Mr. Arora further added that given the huge local market of 1.3 billion people, Indian companies should focus more on domestic market, achieve scale and gradually look at exploring export opportunities as we become globally competitive in due course.”
Participants from textiles industry joined the FICCI TAG conference virtually from across the country and deliberated on the theme of ‘Repositioning Indian Textiles and Strategizing for Growth in the Post Covid World’. CEOs from the textile industry deliberated on the revival of demand; opportunity for India; diversification; sustainable manufacturing, R&D, innovation and building global brands.
Mr. R. D. Udeshi, President – Polyester Chain, Reliance Industries Ltd. said that “Indian textiles industry has revived post Covid with the help of new product segments in knit-based industry as focus on comfort wear has grown among users substantially. He further suggested that if Indian companies need to achieve the scale than end to end approach is required and it needs to be supported by world-class R&D institutions set up in public private partnership.
Mr. S. K. Gupta, Advisor and Board Director, Raymond Ltd. speaking at the panel said that “Cotton is our strength; we should not lose focus on same. While Proactive product development is the key to growth, sustainability focus and compliance can create huge differentiation for India among global peers.”