Emerging as a global textile hub with huge potential, India needs to develop man-made fibre to remain competitive in the global market. The country aims to be a $350 billion textile industry by 2025 The country also aims to increase its textile exports to around $100 billion from the current $40 billion. It will focus on quality and other aspects to improve its competitiveness in the global market.
For this, India needs to create trade barriers for China to prevent it from dumping cheap textile products into India. It needs to address the issue of being cost driven rather than innovation driven. It also needs to develop and grow man-made fibre to remain competitive in the global market.
In order for manufacturers to attain competitiveness, the concepts of Textile 4.0 need to be integrated with manufacturing excellence. There is a lot of emphasis on sustainability and the world is looking at factories to reduce the use of resources and water. Companies should also reduce carbon footprints. India should present itself as a competitive manufacturing nation.