The Flip Side

MANAGEMENT GURU

The Indian textile sector looks well on its way to create a strong foothold in the global arena, but there are quite a few bottlenecks, which are adequate enough to lead to a doom for the loom. Even today, the so-called Indian labour welfare policies are so complicated that the dragon nation is stealing the show by attracting much higher FDI into its textile sector. Moreover, Man Made Fibre (MMF), which dominates the total textile consumption of the world, is also subject to a high import duty of 10%. With definite conviction, if the duty is removed, the exports are bound to surge northwards. The government should also inject investment in veins of the industry by extending the TUF Scheme beyond March 2007, so that the Indian textile industry gets into a strong position to face the growing competition. “The industry has just started meeting global challenges and we need more funds for technical upgradation,” supports C. L. Rathi, MD, Birla VXL Ltd.

The need of the hour is to rationalize the government policies and further enhance co-ordination with the industry. This will greatly assist the Indian textile companies in their hunt for the golden treasure trove. With proper direction from the policy front, India can establish a fanatically flamboyant brand identity for itself across the planet. So it’s high time to get all hands on deck and get the Indian textile ship moving on an odyssey towards global dominance.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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