India would be in a position to breach USD 20 Billion apparel exports in the coming fiscal year, said the Union Secretary Ministry of Textile Upendra Prasad Singh here on Tuesday.
He said the Country’s textile exports could increase to USD 100 billion in the next five years. The Government has also initiated PLI (Production Linked Initiative) Scheme to make the Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) scheme a success to have world-class infrastructure and thriving textile industry, the Union Secretary.
The Indian apparel industry should also focus on vertical integration to increase its scale and size and to benefit from the PLI scheme, the Union Secretary said while addressing the 44th Foundation Day of Apparel Export Promotion Council (AEPC).
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“Apparel and garmenting are not very investment centric but it is very important from an employment point of view. Perhaps, there is a need for backward integration and more of you can get into integrated value-chain like spinning and weaving,” the Union Secretary stated.
He assured textile exporters that textile has always been among the top priorities of the government. “There are a lot of big opportunities. The demand continues to be robust and China plus one sourcing strategy by the west is certainly a great opportunity for us.” He added.
But it all depends on how good, efficient, and integrated the Indian apparel industry is and how it increases its size and scale, Upendra Prasad Singh said.
“Let us not get into just the macro figure, let us get into the micro-level. Let us go product by product and country by country,” the Textile Secretary said.
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