Jain was speaking immediately after becoming the chairman of NITRA's council of administration, at the 40^th annual general meeting of the organisation at NITRA campus in Ghaziabad.

The textile industry is going through unprecedented challenges, which has pushed the industry to the brink. However, the space being vacated by the Chinese industry offers a great opportunity, Jain said.

While being excited at the industry being at a very important threshold, Jain said he was worried about the immediate crisis of the industry due to isolated increase in cotton prices in India while global prices were stable.

He also mentioned that there is immense potential for conducting need-based R&D and intensifying other support services to the textile and clothing industry. He expressed confidence that NITRA would continue its pursuit for excellence in this direction during his tenure as its chairman. (RKS)

Fibre2Fashion News Desk – India