FIEO to set up TT cluster in TN

The Federation of Indian Export Organisation (FIEO) is in talks with various agencies to set up a technical textile cluster in Tamil Nadu, where common facilities, including R&D, could be provided for start-ups, A Sakthivel, Chairman, FIEO (Southern Region), said. Stating that very few are into export of technical textiles at present, he said the potential is immense, but exporters would have to look at product diversification to achieve higher growth.

India’s export performance data for January 2017 has been positive and has been so the last five months of the current fiscal after two years of continuous negative growth.

After lowest growth during 2016, world trade is expected to be better during 2017 and 2018 at least in emerging economies. But the prices of all products have started to slide globally and this could pose a huge challenge for the product manufacturing sector in India