Opportunities for Indian Textiles industry to gain share of China in developed world market

24 September 2020: Ravi Capoor, Secretary, Ministry of Textiles, said that although COVID-19 has affected the global market, it 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. He 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.

He was addressing at the inaugural session of the three-day ‘GLOBIZ – Global Textile & Home Furnishing Expo’, organized by FICCI. Capoor said: “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 urged the textile industry to work towards tapping the unexplored global markets. “We are concentrated on few markets only. We should expand in the markets where India was never present. He said virtual Shows like GLOBIZ help to do that. This is the time for the textile industry to increase its market share and take advantage of the international markets.”

Capoor further said: “There are challenges in the apparel industry, but the home furnishing sector has the potential to almost double its exports within two years.”

He announced that the Textile Ministry is planning a ‘Textile India Fair’ which will be the largest virtual fair globally, with over 30,000 buyers expected from different countries.