Business

Youngsters Should Be Encouraged To Invest In Textile Sector: Anil Rajvanshi Reliance

Speaking about trends in Man-made fibers, Debabrata Ghosh, General Manager, Sales Oerlikon Textile India Pvt. Ltd. disclosed that right now India is following a reverse trend. Whereas world over the usage of man-made fibers is 70 percent and that of cotton and other natural fibers only 30 percent, in India cotton is still very dominant.

He was speaking at TAG 2017 hosted by FICCI at the Ball Room, Taj Palace. He was seconded close on heels by Anil Rajvanshi of Reliance who called for a policy shift on the part of the governments both state and center in the long term interests of the Indian textile industry. Quoting Prime Minister Narendra Modi, he said, “We may be required to increase our production of MMF five times over to reach half of China’s capacity. At present we are a very poor second.” He further said, our Prime Minister had given a five year time frame to achieve this capacity augmentation. “If we take his clarion call seriously, at least in another 10 years, we should be able to reach the said target,” he added.

“Currently there is lot of flab on returns from capital investment in the textile sector. We suffer from high per unit cost. We should achieve cost efficiency and motivate youngsters to invest in the textile chain pan India,” he opined.

He cited the example of India’s neighbor Bangladesh. He said, “Bangladesh has the capacity to process large orders in a short time efficiently and achieve on-time delivery. Unfortunately, India is lagging behind on this front. There is a dearth of investors for the textile sector currently in India,” he said.

The speakers at the session also emphasized that till now all the textile units were concentrated on the western coast or western front of India and in the Eastern region where the raw materials abounded there were no units. They felt the need for a balance factor to play a key role in augmenting India’s textile production. “Of late, some units have started coming up in the eastern belt like in Orissa and Andhra Pradesh. The trend however, has to accelerate and pick up,” they opined.