Coimbatore: The Indian Texpreneurs Federation (ITF) has decided to focus on the US market for apparel exports.
“The Indian textile sector achieved a status of biggest gainer of volumes in the US market during the first 10 months in 2020. Now, it is time for us to export our apparel products in the US market. Because, we share a level-playing field with our competitors unlike in the European Union where our competitors like Vietnam have a free trade agreement (FTA). We have to intensify our efforts and focus at all levels to grab our share in apparel section in the US market,” said Prabhu Dhamodharan, convenor of the federation.
It is time for the textile and apparel sector to invest at various stages of the value chain with main focus on value addition so as to increase revenue by 20% per product, Dhamodharan said. “The industries should turn the easy liquidity and low-interest regime during the time of robust demand due to post Covid opportunities to their advantage. All manufacturing units should invest in technology adoption and take digital initiatives to achieve global benchmark in terms of production and efficiency to build long-term competitiveness.”
Following the Covid-19 pandemic, the sector has bounced back and is confident of achieving much-needed growth this year, he added.