India : Less dependency of imports of textile...

Less dependency of imports of textile machinery

(Source: Pixabay)
(Source: Pixabay)

Innovations and further development of Indian textile machinery manufacturers should improve the competitive capabilities along the value chain of the textile and apparel industry in India. Thus, domestic consumption could be increased, and exports of higher value goods could also be boosted, while import dependency would be gradually reduced. To achieve this goal, the activities of various government agencies (such as the Ministry of Textiles, the Ministry of Heavy Industries, and Digital Innovation/ Adaptation Possibilities) would be pooled to increase efficiency by reducing costs across the value chain.
Therefor the National Capital Goods Policy, a manufacturing sector policy devised by the government of India, aimed at increasing the production of capital goods from the 2014-15 value of approximately US$31 billion to $101 billion by 2025.
Union trade and textiles minister Piyush Goyal has urged the textile industry to develop 100 Indian textile machinery champions recognized across the world to reduce the import dependency of the textile machinery. Goyal was interacting with the textile machinery manufacturers in a video conference on “Technology Gap and Way Forward for Textiles Machinery Manufacture”. The minister also asked the textile machinery manufacturers to get out of command-and-control mindset and work through plug-and-play to make the textile sector vibrant in name and spirit.
»India should be looking to become a global player in producing textiles machinery, producing at scale, producing with quality and quantity the machinery of choice that the world requires. We are not averse to imports but we must reduce the import dependency of the textile machinery in India by concerted effort between textile engineering industry and government together. Focus on quality will help to capture bigger markets and higher productivity.«
Piyush Goyal, Union Trade and Textiles Minister of India

Your Newsletter for the Textile Industry

From the industry for the industry – sign up for your free newsletter now

To differentiate your newsletter registration from that of a bot, please additionally answer this question: