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Rediff.com  » Business » Textiles? India may outdo China

Textiles? India may outdo China

By BS Corporate Bureau in New Delhi
October 06, 2005 12:28 IST
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Union Textile Secretary R Poornalingam on Wednesday said India might outdo China in the global textile market because of the former's edge in the availability of fibres and skilled manpower.

He said despite infrastrcuture problems, the sector had witnessed growth. "The government wants to improve infrastructure. However, competing claims for resources from various sectors are delaying facilities in the sector," he said.

Poornalingam allayed fears about the surge made by China in the sector. He said India's managerial talent was in a much better position and the country was catching up with others in fashion and design fields.

"Though China is in a better position in terms of quality and price front, we have our own inherent advantages and only need to exploit them to move ahead of them," he said.

He pointed out that being a controlled economy non-performing assets in China were about 40 per cent against around five per cent in India.

He asked buying agents to wait for some more time to get better infrastructure and services from manufacturers and said integrated textile parks would increase the production base in the country.

"In the long run India remains the best bet in the textile sector," he added.

He also expressed hope that knitwear exporters would be able to achieve the target of Rs 10,000 crore (Rs 100 billion) by 2008 set by President APJ Abdul Kalam.
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