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Global Textile Summit 2022-Mission to develop India’s textile industry with a target of USD 300 billion

By on September 20, 2022 0

New Delhi [India], Sep 20 (ANI/GPRC): Brands and Sourcing Leaders (BSL) organized the GLOCAL TEXTILE SUMMIT 2022 on Sep 16, 2022 at EROS, Nehru Place. The government, under the dynamic leadership of the Indian Prime Minister, Narendra Modi, has taken a series of measures for the holistic development of the textile and garment sector. With a favorable policy environment and guidance from the Indian government, India’s textile and apparel industry could reach its highest ever revenue of USD 44.3 billion in 2021-22. Our Minister of Textiles, Piyush Goyal, has set a target of $100 billion by 2026 for exports and $300 billion for industry. India’s textile and apparel industry is one of the largest in the world with the presence of a whole textile value chain from farm to fashion and make-up. The textile and apparel industry not only contributes around 10% of India’s total merchandise exports, but also generates direct and indirect employment opportunities for over 105 million workers. The Government of India has also put in place a number of schemes such as the Production Linked Incentive Scheme (PLI), PM Mega Integrated Textile Region and Apparel (PMMITRA) Scheme to develop world-class manufacturing in India which can play an important role in increasing India’s market share in textile and apparel exports in the global arena. Over the past few decades, Indian domestic textile and apparel brands and retailers have witnessed phenomenal growth in buying and sourcing from SMEs and large manufacturers.

Anandya Ray (Chairman) BSL says “We want to accelerate the growth and advancement of the Indian garment industry in raw materials, technology and sustainability through industry-level collaborations and government support .” BSL is the ONLY body that brings together international and national brand managers, CEOs, CXOs and procurement managers from the apparel, fashion and textile industry. BSL has become an important body for discussing challenges, opportunities and collaborative solutions to act as a catalyst to accelerate industry growth with over 250 international and national brand managers, CEOs, CXOs and chief marketing officers. apparel, fashion and textile industry, the senior management of the invited trade association, has confirmed its participation in the Glocal Textile Summit 2022.

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