COVID-19 Has Opened Up New Vistas For Indian Textile Industry In Global Markets

Ravi Capoor, Secretary, Ministry of Textiles, Government of India, stated that COVID-19 has affected the global market conditions but has also opened up new vistas for the Indian textile industry to gain market share of China in the developed world, especially the EU and the US. Addressing the inaugural session of the three-day 'GLOBIZ - Global Textile & Home Furnishing Expo', organized by FICCI, Capoor said that this is the most promising time for the textile industry in India due to strong consumption in the domestic market as well as the growing demand for exports. Various countries are looking at Indian markets and it's the time to gear up supply chains, quality and deliver at the promised schedules, which will enable India to become a market leader, he added. Capoor also urged the industry to work towards tapping the unexplored global markets. All stakeholders including FICCI should plan a huge outreach program in new areas like the LAC, Japan etc. There are challenges in the apparel industry, but the home furnishing sector has the potential to almost double its exports within two years, he noted.

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