In a resounding call to action, Texcon '23, organized by the Confederation of Indian Industry, declared a pivotal moment for India's textile sector with the theme "Making India a Global Textile Manufacturing Hub: A Paradigm Shift." The event held at The Ashok in New Delhi underscored the imperative for industry-wide collaboration, government support, factory scaling, and innovation to overcome challenges.

Sustainability as a catalyst for progress

Recognizing the need for a transformative approach, industry experts proposed leveraging sustainability to propel growth. Initiatives like Kasturi Cotton, unveiled at the International Cotton Advisory Committee meeting, showcase India's commitment to traceability. Endorsed by actor Pankaj Tripathi, Kasturi Cotton incorporates blockchain technology for complete traceability, symbolizing a significant step towards transparency.

India's ambitious targets for 2030

Texcon discussions revolved around achieving India's ambitious textile sales target of $250 billion by 2030, with $100 billion earmarked for exports. Stakeholders emphasized an "India-first" strategy, urging collaborative efforts to capitalize on the immense potential of the manufacturing sector.

Addressing industry gaps and challenges

Despite a dip in textile and apparel exports in the first seven months of the financial year, October 2023 showed positive signs. Industry leaders, including Sivaramakrishnan Ganapathi and Kulin Lalbhai, highlighted the need for focused attention on man-made fibers and addressing existing gaps in the value chain.

Hope amidst challenges

Amid challenges, industry insiders expressed optimism about the China-plus-one strategy, anticipating a spillover of global brands and buyers seeking alternative production hubs. Comparisons with manufacturing destinations in Asia, coupled with India's strengths, including geopolitical stability and a robust raw material base, fueled confidence in the industry's potential.

Strategic targets and initiatives

At a separate event organized by the Apparel Export Promotion Council (AEPC), industry leaders rallied behind a $40 billion target for apparel exports by 2030, emphasizing the significance of the PM Mitra Park initiative. With engagements like ICAC, Texcon, and AEPC setting the stage, the industry looks ahead to continued collaboration and dialogue.

Bharat Tex 2024: The next frontier

The momentum continues with Bharat Tex 2024, slated to be the "world's largest textile exposition" in New Delhi from Feb. 26-29. With over 10,000 exhibitors across diverse segments, the event signals a proactive stance towards shaping the future of India's textile industry. As the sector navigates challenges, Texcon '23's resounding message echoes: It's "Now or Never" for the Indian textile renaissance.