India
has potential to become the one-stop sourcing destination for brands and
retailers from ASEAN as
opportunities exist for textile manufacturers from the 10-nation bloc to invest
here and cater to the domestic market as well as exports, Textiles Minister Smriti Irani said
on Tuesday. Addressing a conference in New Delhi, the minister said India has
strengths in production and exports of almost all kinds of textiles and apparel
including all handloom and handicraft products that demonstrate the unique
skills of the country’s weavers and artisans.
“In the year 2016, India exported textiles and apparel worth USD 1,203 million
to ASEAN and imported textiles and apparel worth USD 546 million from ASEAN,”
Irani said, adding that this is just a monetary testimonial to how we can go
forward.“With ability to produce a diverse range of products, India has the
potential to become the one-stop sourcing destination for brands and retailers
of ASEAN nations,” the minister highlighted. She said there exists an
opportunity for India to attract textile manufacturers of ASEAN nations to
invest in manufacturing in India to cater to both domestic market within the
country and the export markets across the world.“I am hopeful that this is just
one of the many areas where we can participate and leverage our strengths,”
Irani observed.
Addressing a seminar on India-ASEAN Weaving Textiles Relations’, Irani said she
is hopeful that the programme is the beginning of a new era in the textiles
sector. “A new friendship (referring to India-ASEAN relations) that we can
forge to ensure that we give better manufacturing opportunities, better wage
opportunities and also help strengthen our legacies in the handloom and
handicraft sectors,” said the minister.ASEAN (the Association of Southeast
Asian Nations) is a multilateral body whose member countries include Thailand,
Indonesia, Singapore, Brunei, Laos, Myanmar, Cambodia, Malaysia, the
Philippines and Vietnam.
Earlier
during his address, Textiles Secretary Anant Kumar Singh pointed out that India
was strong and competitive across the entire value chain starting from raw
materials to finished products. “With a strong multi-fibre base and an abundant
supply of raw materials like cotton, wool, silk, jute and man-made fibres,
India enjoyed a distinct advantage of backward integration which many countries
do not possess,” Singh said.
However,
the textiles secretary observed that despite the operation of the free trade
agreement in goods with the ASEAN, India’s exports of textiles and apparels to
ASEAN have virtually been constant in the last few years and have not shown
much traction. “Though India has the unique advantage of having the presence of
the entire textile value chain, its most exported items to ASEAN consisting of
cotton fibre, cotton yarn and fabrics have not grown to the desired extent.
This makes it evident that we have not been able to explore and leverage the
strengths of our textiles industry to the fullest,” he noted.
He stressed upon the need for a robust framework for export of textiles and
apparels between the two sides to give a fillip to trade. Singh said ASEAN
countries have a unique position in the regional value chains and offer a
gateway for market access to China, North East Asia and the EU for India
through their various trade agreements.
Source: PR Newswire, India Thursday, 25 January 2018