CITI advocates for transformative change in Indian textile industry

"The textile industry is crafting an action plan not just for the immediate future but for the long haul till 2047. Despite recent challenges, we are committed to fostering innovation, sustainability, and inclusive growth within the sector," Rakesh Mehra, chairman of CITI, said in a press release.

While acknowledging the sector's recent lacklustre performance both domestically and in exports, Mehra emphasised the urgent need for collaborative action. He remarked, "The textile industry has faced challenges on multiple fronts, including geopolitical uncertainties, shifting consumer preferences, and stiff competition from other sectors. However, there is a collective sense of urgency to reverse this trend and propel the industry towards a brighter future."

CITI recently welcomed facilitation measures aimed at alleviating the burden on exporters, including provisions exempting inputs from mandatory Quality Control Orders (QCOs). Mehra expressed gratitude for these initiatives, stating, "These exemptions will offer much-needed relief to exporters, laying a robust foundation for achieving the target of $100 billion textile and apparel exports by 2030."

Additionally, CITI highlighted the importance of trade agreements in expanding the industry's global footprint. Mehra commented, "The recent India-European Free Trade Association (EFTA) Agreement is a significant milestone, offering better market access and fostering growth opportunities. Our partnership with Swiss Textiles further strengthens our resolve to drive bilateral trade and collaboration."

Looking ahead, CITI emphasised the importance of schemes such as the PM Mega Integrated Textile Region and Apparel Parks (PM MITRA) programme, the Production Linked Incentive (PLI) Scheme, and the Scheme for Capacity Building in the Textile Sector (SAMARTH). Mehra urged the new government to ensure effective implementation of these schemes to catalyse investment and capacity building within the industry.

In conclusion, the chairman reiterated CITI's commitment to driving transformative change within the Indian textile industry. He stated, "As we anticipate the new government's policy direction, let us remain steadfast in our commitment to innovation, sustainability, and inclusive growth. Together, we can shape a vibrant future for generations to come."

Fibre2Fashion News Desk (DP)