Policy named ‘Indian Textile and Clothing Industry: 2015’ is aiming to minimize negative effect of the economic crisis over textile industry of India by making move towards diversification of both domestic market and exports.
Soon when the need of turning around the clothing and textile industry was felt, FICCI, started a move with its five year policy for restricting and revitalizing the textile industry of India. The policy is structured and formulated for neutralizing the adverse impacts of the crisis over textile market of India, diversifying domestic market and exports, encouraging SME enterprises consolidation, increasing consumption of fibre in India, encouraging raised value addition in India, establishing 20 brands of the country around the globe, promoting technical textiles along with high-tech fibres, promoting technologies that reduces emission and raising energy efficiency and increasing indigestion of equipments and technical support, stated FICCI.
The reason behind the establishment of such policy is the changing economic market around the globe where lot more countries like Pakistan, Bangladesh, Vietnam and Turkey etc are developing and giving competition to the textile of India and also to strengthen the industry, added FICCI
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