Time is ripe for investment & modernisation

– A Sakthivel, Chairman, AEPC

Indian textile industrys future is looking bright. In the last 8-month, there is a 17 per cent growth in apparel export. In textile fabric, the growth is 18 per cent. Last 3 years were bad for us, but 2013 started working well for the industry. As being witnessed, Chinas fortune is dipping but the US and Europe are picking up. This is a good sign for India. In exports from Tirupur for the first time after a long time, in the last 8-month period there has been a growth of 18 per cent in dollar terms and 30 per cent in rupee terms.

The time is ripe for investment and modernisation. The last 3-year bad times are over. This is the opportunity for the industry to use TUFS and go for new investment. Our target for apparel & textile this year is $43 billion. In this apparel should hit $17 billion, which is well within reach. Garment export accounts for about 15.9 per cent in total T&C exports.

In November alone apparel export growth was 32 per cent, which indicates that the apparel industry is back on tracks and on fast growth track. Cotton textile industry is in good health, and this in turn has improved the yarn scenario. Ultimately this will translate into good condition for the cotton garments export and domestic consumption. Rupee has kept a level at 61 to 62 against dollar. This is a good level and we expected it to stabilise at this level. This also augurs well for the garment industry.

Time is ripe for investment & modernisation

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