MUMBAI: India has tremendous opportunity in textiles in the area of design and supply chain logistics. Design costs in India are one tenth of that in the U.S. and there is a change in sourcing pattern of buyers with most of them sourcing from centres close to point of sale. The overriding message at the 4th International Textile and Apparel (ITA) Congress organised by KSA Technopak was that India should not miss this opportunity.

Inaugurating the congress, Shankersinh Vaghela, Union Minister for Textiles, said, "India is providing a great opportunity for employment, especially in the textile and apparel sectors. With good infrastructure, skilled labour and best raw materials, we can fulfil the textile requirements of the entire world. The time to invest in India is now."

Fourteen countries participated in the congress and they zeroed in on the key characteristic of the industry — global supply and retail chain, where outsourcing is the byword.

In his keynote address on creating and enhancing stakeholder value in a mature and competitive industry, Vallabh Bhansali, Chairman, Enam Financial Consultants, stressed that value creation was a function of the mindset. While there were several examples of companies having created stakeholder value despite competition, similar examples could also be set in the textile and apparel industry.

Since January 2005, when quotas on textile imports were lifted, world trade in the segment had undergone a number of changes, presenting buyers with several options in sourcing. In just one year, Indian textile and apparel exports increased by 19 per cent to $16 billion.

Arvind Singhal, Chairman, KSA Technopak, said, "India's domestic market size potential is attracting attention from major international brands and retailers."

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