The event was held @ PHD House, New Delhi, on September 17th, 2024
In the opening remarks Madhu Sudhan Bhageria, Chairman of the PHDCCI Textiles Committee and Chairman and Managing Director of Filatex India Ltd, highlighted that as an industrialist, I have witnessed the remarkable contributions of this industry, which not only upholds India's culture, heritage, but also serves as a cornerstone of our economy.
Providing millions of jobs, however, we face significant challenges. That has hindered our growth and full potential. Global textile business continues to grow at a
CBR of 3%. This anticipated growth can be attributed to factors such as a continued increase in global population and urbanization. The rapid expansion of e-commerce increased its expenditure on leisure activities, going retail penetration, increased internet accessibility and smartphone usage, and a rising preference for contactless delivery solutions.
Notable trends expected in the future include a shift towards adopting digital printing means, a focus on utilizing nonwoven fabrics and emphasizing organic fibers, and a spotlight on sustainable fibers. Integration of blockchain technology into manufacturing processes. Adoption of digital platforms for textile supply chain management.
Collaboration with technological companies to design and develop smart fabrics. Investment in robotics and automation. Incorporation of artificial intelligence and infrastructure partnerships and collaborations to foster innovations in product development. So it seems like a complex situation, yet be that as it may, we need to meet these challenges collectively.
The objective of our summits are clear, to identify, discuss, and formulate actionable strategies to navigate the current of transformation that our industry is currently facing. We aim to spark constructive dialogue on the latest innovations. Share best practices, and ultimately forge a unified vision for a sustainable future in textiles.
In recent years, Indian textile sector, once a global leader, has grappled with a series of internal and external challenges. From fragmentation within the industry to financial constraints faced by small and medium-scale enterprises. Technological gaps, labor issues. infrastructure deficiencies and environmental concerns.
These hurdles require immediate attention. Moreover, there are significant trade barriers that further restrict our competitiveness on the global stage. In light of these critical issues, we at PHBCCI have outlined a series of actionable recommendations that can revitalize our industry. We believe that addressing challenges such as ensuring adequate raw material availability, industry consolidation, skilled development, technology observation, and trade reforms is paramount.
Implementing these strategies can propel the Indian textile sector to new heights, creating a positive ripple effect on the broader economy and improving employment in the nation. Therefore, the urgency of our mission cannot be overstated. Sustainability is no longer optional, it is essential. Our goal today is to identify actionable strategies that address environmental responsibility, innovations, and ethical practices shaping a sustainable future for our taxpayers.
Effective steps must be taken with full traceability to ensure we meet sustainable standards. Sustainability in the textile and clothing industry has gone beyond just using organic materials and efficient processes. The textile chain consumes a huge amount of water and energy and uses various chemicals and harmful substances.
Most of the textile industry discharges a huge amount of harmful waste, causing a threat to natural bodies. There is a dire need to adopt newer methods of manufacturing. We do not hamper the environment and utilize natural resources to help not only sustain the textile industry but the ecosystem as well.
SME sector needs to be supported by way of access to low-cost finance, grants, and incentives to adopt new manufacturing practices to become compliant. We urge the Ministry of Textile to prioritize this sector, initiate proactive policies, and stipulate time-bound targets. Just an example, China aims to recycle 25 percent of all its textile waste by 2025.
The textile industry is not just an economic contributor. It's one of India's largest employment providers. Focus intervention, rationalizing DST, loading custom duties for modernization of machinery, encouraging domestic production, tracking and controlling low-cost imports, and more. and incentivizing technology adoption is critical to the revival and revitalization of this sector.
Revitalizing our industry requires a comprehensive approach. We must work together to build a robust, sustainable textile framework that addresses today's needs by being able to, by being adaptable to future demands. As we engage in today's discussion, let us remember that our industry's future depends on overcoming challenges with innovations and sustainability.
Together we can ensure India reclaims its position as global textile leader while setting new standards for sustainability. for your presence and your commitment to the right to cause. Let's embark on this journey together towards a sustainable and prosperous future for the Indian textile industry.