India and its textile sectors have many advantages for growth at their finger tips

In the framework of ITMA 2019 in Barcelona, TextileFuture has attended an invitation by the India ITME, The India International Textile Machinery Exhibition Society on the topics of the ITME anniversary and the new venture of an ITME Africa, in Addis Ababa in February 2019. It was also a networking moment with Indian Business Men and Women. Guest speaker was also Uday Paul Singh Gill, CEO of Fibres at Indorama Ventures and the subject was Rise and Growth of India’s Textile industry.

We think that the outside view of an industrialist is enlightening many other angles and is revealing a personal view on the economic prospects of India and its textile industry from a “partisan viewpoint”, this is why we do exclusively publish his presentation on June 22, 2019 in Barcelona, Spain and we do sincerely thank ITME Society for this occasion.  

Uday Paul Singh Gill, CEO of Fibres at Indorama Ventures (caption courtesy by Indorama Ventures)

At the very beginning of his speech, Uday Gill declared India as an economic superpower, and he shared this opinion with other Indian dignitaries present at the event, such as Ms Seema Srivastava Chairman S. Hari Shankar, Chairman of INDIA ITME Society and the Indian Ambassador and Chief Guest H.E. Sanjay Verma.

According to Mr. Gill, India has various advantages to be proud of:

  • such as favourable conditions to do business
  • continuous increase of productivity,
  • a youthful population fuelling growth over decades
  • high investments by the government of India and the private sector in infrastructure
  • with the right healthcare policy the people will be more healthy and more productive,
  • high investment in education
  • enjoying the largest non-native English speaking population
  • E-commerce revenues will double in the next five years
  • Further growing of Mega-Cities with positive effect on consuming
  • Attractive place for FDI Foreign Direct Investment opportunities
  • Consumer Confidence will propel consumption and GDP
  • Quick adaption of new technologies
  • High growth and low risk make India attractive

In view to textiles, Mr. Gill forecasts

  • a re-balancing of worldwide trade
  • India has already achieved various favourable positions in the world wide textile industry
  • India leads the value addition, has competitive labour and power costs
  • The Indian currency provides further competitive advantages
  • It is located strategically with logistic advantages
  • India offers lower costs to produce 1 kg of yarn (ring and texturizing)
  • India disposes of the entire value chain in the textile ecosystem
  • The country disposes of a great potential in growth of the per capita consumption, and
  • A great potential growth of the textile machine manufacture
  • India is leading the sustainable growth

The challenges ahead:

  • The textile industry needs regulatory and infrastructure support
  • Innovation is the key to create value
  • Front end of the value chain needs enhancement

Here are the self explanatory slides of the presentation:

At the end of his presentation, Mr Gill also presented what Indorama Venture is doing and we show also his relevant slides.

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