India can exploit US-China trade war, say texpreneurs

Economy


COIMBATORE: The trade war between USA and China has provided a good opportunity to India in the textile sector, convenor of Indian Texpreneurs Federation Prabhu Dhamodaran said Saturday.

With the global export of textiles pegged at USD 260-billion, the export from China to US has gone down by three to four per cent in the last five months, which has to be cashed in on by the Indian textile manufacturers, he said.

Dhamodaran was speaking after inaugurating the 2nd edition of the National Textile Conclave aimed at creating awareness and spreading the principle of Japanese ‘5S system’ (which stands for: order, cleanliness, purity and commitment), and quality circle principles.

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The conclave was organised by Quality Circle Forum Of India (QCFI) here.

He further said manufacturers have to shift their focus to value-added products in apparel segment and large-scale apparel manufacturing, which would reduce the cost in basic commodity apparels.

Increase by one-billion dollar export from India would help in generating 1.5 lakh new jobs, he said.

Prabhu said there was a need to strengthen the Tamil Nadu textile sector by achieving manufacturing excellence, consistent quality, and continuous improvement to match the moving benchmarks.

QCFI executive director D K Srivatsava said the national convention of the forum would be held here in 2020.

In his address, CEO of IDFC (Infrastructure Development Finance Company) Dr N S Rajan said happy employees deliver 30 per cent more productivity, two times more innovative solutions, which lead to less attrition in the organisations.



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