CITI Gears Up For Future That Envisions Thriving Textile Sector

The Confederation of Indian Textile Industry (CITI) is gearing up for a future that envisions a thriving textile sector till 2047, which also marks ‘New India’s’ fulfillment of aspirations.

“The textile industry is crafting an action plan not just for the immediate future but for the long haul till 2047,” CITI Chairman Rakesh Mehra said.

“Despite recent challenges, we are committed to fostering innovation, sustainability, and inclusive growth within the sector,” he added.

The CITI Chairman acknowledged the sector’s recent lackluster performance both domestically and in export markets and emphasised the urgent need for collaborative action.

“The textile industry has faced challenges on multiple fronts, including geopolitical uncertainties, shifting consumer preferences, and stiff competition from other sectors,” he remarked.

“However, there is a collective sense of urgency to reverse this trend and propel the industry towards a brighter future,” Mehra stated

CITI recently welcomed facilitation measures aimed at alleviating the burden on exporters, including provisions exempting inputs from mandatory Quality Control Orders (QCO).

“These exemptions will offer much-needed relief to exporters, laying a robust foundation for achieving the target of US $100 billion textile & apparel exports by 2030,” he informed.

Additionally, CITI highlighted the importance of trade agreements in expanding the industry’s global footprint.

The recent India-European Free Trade Association (EFTA) Agreement is a significant milestone, offering better market access and fostering growth opportunities.

“Our partnership with Swiss Textiles further strengthens our resolve to drive bilateral trade and collaboration,” Mehra mentioned.

Looking ahead, CITI places importance on schemes like PM-MITRA Parks, the Production Linked Incentive (PLI) Scheme, and the Scheme for Capacity Building in the Textile Sector (SAMARTH).

Mehra urged the government to ensure effective implementation of these schemes to catalyze investment and capacity building within the industry.

He further said that as we anticipate the new government’s policy direction; let us remain steadfast in our commitment to innovation, sustainability, and inclusive growth.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *