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Texprocil Export Award celebrates achievements of exporters

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Graced by Union Textile Minister, Smriti Irani and Kavita Gupta, Textile Commissioner, ‘Texprocil Export Award’ celebrated excellence of textile companies in yarns, fabrics and textiles. In her speech, Irani indicated that made-ups and home textile sector may be covered under another special package similar to Rs 6000 crores special package announced for garment sector.

She further stated that Prime Minister Narendra Modi has a vision of doubling the income of farmers by 2022. "We are happy the farm yield has already increased and the country hopes to become a leading producer of cotton,” she said. Irani, later distributed the awards for excellence in exports of yarns, fabrics and home textiles. Leading textile companies like Welspun Global Brands, Vardhman Textiles, Trident, Alok Industries, Arvind, Loyal Textiles, GTN Textiles, Premier Mills, Paramount Textiles, SEL Group, Lahoti Overseas among others, were some of the recipients.

Texprocil

R K Dalmia, Chairman, Texprocil in his opening remarks congratulated all award winners for facing the challenges of slow global demand and intense price pressures to emerge leaders in their respective line of businesses during the year 2015-16. He said that as per a recent WTO forecast, global trade volumes would rise only by 1.7 per cent this year. This would be the slowest increase since the 2008 financial crisis and the first time in 15 years that global trade has grown more slowly than world GDP, he added.

Dalmia complimented the government on the announcement of special package of Rs 6000 crores for the apparel sector which he said was bearing fruit as the September export figures for apparel showed a growth of 12 per cent compared to a downward trend for most other sectors.

The chairman stressed that this special package also needed to be extended to the made-ups and home textile sector as these sectors are equally, if not more labour intensive much like the apparel sector. He also said that it will act as a pull factor for increased consumption of fiber, yarns and fabric produced domestically. Besides complimenting the government on GST to be introduced from April 2017, Dalmia also emphasized that raw materials, especially cotton should be available at international prices or lower.

 

FTA negotiations

Dalmia stressed, another critical area where the government needs to move with vigour is to expedite the negotiation of Free Trade Agreements with EU, Australia and Canada. In countries like Turkey and China, high discriminatory tariff was posing a challenge in market access into those countries. The chairman pointed out that cotton textiles of HS Chapter 52 was the single largest contributor accounting for almost 20 per cent of our exports to China and if duties were reduced they had the potential to reduce India’s trade deficit with that country.

Dalmia opined the spinning sector was going through rough times and is looking up to the government for help and support. Inclusion of cotton yarn in the MEIS and extending the interest equalization scheme to merchant exporters will go a long way in reducing stress levels in spinning sector as well as increasing exports. The reimbursements of State and Central levies along with labour reforms will strengthen the textile and apparel sector by improving its cost competitiveness in the global market.

Considering that the textile sector is a low margin industry, introduction of such packages can lead to an exponential leap in export performance. This can be seen from the fact that in September 2016 export of garments showed a 12 per cent growth despite a downward trend for most other sectors.

Every year the Texprocil recognises the role played by exporters by giving out awards in different categories. This year the Council gave away 73 awards in 32 different categories, including the coveted gold trophy for the highest global exports. Texprocil’s awards are recognised world over by textile importers and hence exporters attach high importance to these awards. For 2015-16, the Council members exported $ 10.95 billion worth of cotton textiles and the Council has targeted $14 billion worth of exports for the current financial year i.e. 2016-17.

 
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