The year 2017 had a few demons that the textile industry needed to exorcise: Demonetisation and GST, which tore into the fabric of the small sector, the after-effects of which are still lingering on.
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India is still miles away from tapping the full potential of organic cotton despite a major global share of 56 per cent and a promise of 20 per cent higher return for farmers from this white gold. An ITJ Exclusive portrays the problems and prospects.
The demand of organic textiles in India is much less and has not yet reached the peak for Indian entrepreneurs to jump into organic manufacturing, says Avinash Mayekar.
After working in industrial sector for a few years, Amit Narke, an electronics engineer, rather decided to associate with an electrifying movement called ‘organic cotton farming’ and 100 per cent organic cotton garment manufacturing.
Global Organic Textile Standard (GOTS) is the world’s leading standard for processing of organic textiles. Sumit Gupta, India Head, GOTS, traces the growth of GOTS in India since its inception.
Misfortunes have come in battalions for textile exporters ? firstly GST dilemma, then, hardening of rupee and now the axe on duty drawback rates. An exclusive ITJ Report throws some light on the issue.
Not long back when the textile market shifted from Europe to Asian countries, India having a vast knowledge and experience in the textile sector was expected to flourish as the global textile leader, but due to internal factors it remained an unachieved dream, avers Avinash Mayekar.