Russia to boost textile industry

The Russian Government has announced on the website government that Prime Minister Medvedev has spoken to the Russian textile industry during a meeting in Ivanovo on 31 October 2014. Excerpt from Dmitry Medvedev´s remarks during a meeting on the textile industry:

The Russian Government has announced on the website government that Prime Minister Medvedev has spoken to the Russian textile industry during a meeting in Ivanovo on 31 October 2014. Excerpt from Dmitry Medvedev´s remarks during a meeting on the textile industry:

´Clearly, the situation is complicated, especially so because this industry has been in marked decline for decades. The situation has improved in certain segments, remained unchanged in others, and further worsened in still others.

The number of workers in the sector is shrinking and now stands at 270,000, down from 400,000 seven to eight years ago. This is not entirely a bad thing, as it´s also a sign of modern labour practices in the industry.

There are objective causes, including obsolete manufacturing facilities, dependence on imports of raw materials and, of course, tough competition. Nevertheless, the industry still must be developed, and we can follow the example of a number of countries that managed to convert such factories into modern, efficient production facilities.

The industry has plenty of room to grow, and the demand for textile will always be there. At nearly three trillion roubles, the retail market for light industry is the largest among all non-food product markets. These can be profitable businesses that are good for the country´s budget.

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