At the outset, I extend my heartfelt thanks to the Honorable Minister of Textiles, Giriraj Singh Ji, for gracing us with his presence at the celebration of the World Cotton Day 2024. Your support and guidance are instrumental in shaping the future of India's cotton and textile industry. So today we have celebrated not just a fiber, but a way of life, a source of livelihood for millions of people around the globe, and a vital pillar of our economy here in India.
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Throughout the day, we have been enlightened by meaningful discussions that highlight the potential of cotton to foster sustainability, inclusive development, and technological innovation. These are essential pillars for our progress as we navigate the challenges and opportunities of a rapidly evolving global landscape.
India's textile industry holds a special place of pride in our nation's history, economy, and cultural heritage. As one of the oldest industries, it continues to thrive. To be one of the most significant drivers of India's growth, our textile sector connects deeply with the fabric of our nation, touching the lives of the poor, youth, farmers, and women, each of whom plays a crucial role in the industry's success.
India's textile and panel industry, sir, is the second largest employment generator sector providing livelihood to more than 10 crore individuals directly and indirectly, particularly in rural areas. It contributes to about 8 percent in India's merchandise exports and is thus of prime importance to the Indian economy.
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Presently, our textile industry stands at an impressive market size of 160 to 170 billion. With determined efforts and strategic policies, we are targeting a market size of USD 350 billion, including USD 100 billion in exports by not too distant 2030. Cotton being the main feedstock of the Indian textile and fabric industry, We will play a pivotal role in achieving this market size, and for the same, two key factors are essential.
First and foremost, sir, is the availability, ample availability of cotton. Sir, we have been talking earlier today that we need to improve the yields of the Indian cotton, uh, industry. Cotton farmers, we have seen earlier today, in countries like Brazil, Australia, and America, are producing almost 4x of what India is doing.
Sir, if this can be achieved, if not at least 4x, even if 2x is achieved in the next 2-3 years, I think the entire fibre demand will be met by the cotton, uh, by enough availability of cotton. Prajakta Ma'am also told us the steps being taken earlier today,
So we should use the same parameters and bring them out in the other clusters of cotton. We have always been hearing, we have been just talking this, that India needs 12 billion, a million tons, or 15 million tons and the increase requirement will can come only from man-made.
Why don't we produce more cotton? Why don't we grow more cotton? I can assure you that if we meet, meet the global standards, we will leave no fibre other than cotton. Or let the consumer decide what he wants. Let us not just rely on man-made or any single fibre putting eggs in one basket.
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So that is something which we have to all today how to do? Let us do whatever we can to grow the product and stop the worry of the security of fiber.
So that's one thing I think we ask ourselves on this very auspicious day. We should take this up. Earlier today we saw in one of the presentations, and it's not a very difficult thing India, Africa, and America, Brazil, and Australia were almost at the same level 20 years ago, or 25 years ago.
And today they are 5x and we are still at the same level. Or maybe a few percent more. So there is a way to do it. Once there is a will, there is a way. So let us all seize the day.
So anyway, let us hear him out. So as per the industrialists, India will need about 7. 5 billion kilos by 2025. So 2 billion is not a herculean task. We are talking of 30-40 percent more. So we should aim to do it. The government is taking considerable steps to improve the cotton productivity. The pilot project on cotton announced last year has made a positive significant impact on cotton yields in its project areas.
However, to make a significant nationwide impact, there is a dire need to announce a technology mission maybe the next version with a strong emphasis on seed technology to enhance yields across the country.
In this conference also, we have heard in the first session, the best practices have to be involved. If the best practices have to be followed, only then will it improve.
The best practices, why should we be kept away from that? We should be allowed to use the best practices. Then the other thing we have always been talking about is availability at international prices. Sir, today Cotton is the daughter-in-law of Goddess Shakti. It pains us to see that we are more expensive than internationally prevalent cotton rates presently, which is more expensive than most other countries who we are competing with and, that is not a good sign.
The raw material international price will make it very difficult for us to bring the required growth. The target of 100 billion will be a big constraint unless we bring the required growth. I want to talk about Fibre security.
Similarly, we should talk about Fibre and International prices. So, on behalf of the industry, I give you this commitment. If we get Fibre and International prices, we will bring the growth that you want. There is no doubt about it. Today, we are circulating. Viscose Staple Fiber is 15 percent higher than other Spinners.
Polyester Staple Fiber is 25 percent higher than other Spinners. Compared to other spinners in the competing countries like Indonesia, China, and Thailand, so reason enough for our spinners to lament poor margins in the value chain.
If they get the cheapest raw material, then naturally, our market share will go down. It's said then that why do you look towards exports given that, your domestic market is growing by 8 9 percent every year, but we are predominately using exports for fulfilling the surplus production capacity to make our businesses viable and sustainable.
Sustainability and Traceability. This is again a very important subject. Last week I was at the ITAC event in Tashkent. And honestly, I was scared when I heard what was being said about traceability.
Same if you are going to the Brazil Council/Australian Cotton Association and talking about traceability, right from farmer to garment, right from farmland to garment it fully resonates across textile value chain.
It's an impossible task. So the ministry, the government should take it up at the requisite forum that in India, we should have traceability only from ginning stage and not from the fiber stage. Sustainability is another thing. Even today, in the absence of data, someone says, when does man-made water get polluted?
Someone says, when does water get polluted in a quarter? The man-made one says, the waste that comes, I make it from bottles. The quarter one says, my quarter is polluted again.
Arguably cotton, which exactly is a more sustainable product. So all this effort of making the cotton textile value chain needs textile ministry guidance/blessings and your support because these things are not possible in the farmer's stage with due respect to them, I don't think they have the capability and the possibility to do these things.
So there is a need to take the proud Indian textile sector to its rightful place in the global textile universe.