In a bid to promote the country’s textiles in non-traditional markets like Russia, South America and West Asia, the Government is planning to conduct roadshows in these places. This step was taken at a time when shipments from the sector have been declining.
“The roadshows will help attract FDI and create jobs in India. According to a World Bank report on apparel sector, international buyers are looking at economies which have the entire value chain. India is the only politically stable economy apart from China. At this juncture, the roadshows will provide an opportunity to capitalise on India’s potential in the sector,†Binoy Job, Secretary General of the Confederation of Indian Textile Industry said.
Textile exports from India remained flat in 2015-16 at $40 billion as compared to $41.4 billion in the previous year. Moreover, Indian textile and apparel exports have been losing their competitive edge to countries like Bangladesh and Vietnam in recent years.