: Apparel exporters cry for help from global MMF fabric suppliers #FinanceIndia #StockMarketNEWS Apparel exporters cry for help from global MMF fabric suppliers New Delhi, Apr 9 (KNN) Indian apparel

@StockMarketNEWS Mon 12 Apr, 2021

Posted in: #FinanceIndia #StockMarketNEWS

Apparel exporters cry for help from global MMF fabric suppliers #FinanceIndia #StockMarketNEWS
Apparel exporters cry for help from global MMF fabric suppliers New Delhi, Apr 9 (KNN) Indian apparel exporters, aspiring to have a slice of 200 billion dollars global manmade fibre (MMF) garment trade, have sought help from international MMF fabric suppliers to overcome the shortage of the fabric, in the short run, and also to improve the quality of local production of the fabric eventually.

Speaking at a webinar on ‘MMF Fabric Sourcing from International Suppliers’, hosted by Apparel Export Promotion Council (AEPC), AEPC Chairman Dr A Sakthivel said that the country needs to import MMF fabric from international suppliers to increase MMF manufacturing in India.

“Initially we want to import fabric from you all and we expect it at international price, so that we can manufacture MMF garments and export out of India. Besides, we are also interested to have investment in fabric processing in India,” Dr Sakthivel said to the participating MMF suppliers from China and Taiwan.

The Chairman said that India has abundant production of yarn but is in short supply of good quality MMF fabric as domestic producers lack the latest processing technologies.

“We are ready for a joint venture or technology transfer or 100 per cent investment. There are production facilities in India but do not have the latest technologies in processing. Even the government has come out with good incentives like plans to set up seven mega textile parks and production linked incentives (PLI) to promote MMF production.

“AEPC will make all arrangements to facilitate any technology transfer, joint venture or direct investment in the country,” Dr Sakthivel assured the international MMF fabric suppliers who expressed their interest in knowing the details about the benefits offered by the Indian government and what AEPC could do to help them out.

India’s export of MMF garments constitute only 10 per cent of its total apparel exports, which was about 16 billion dollars in 2019-20. In the calendar year 2019, India imported 442 million dollars worth of MMF fabric. AEPC, which sees future growth dependent on success in the MMF segment, has been taking initiatives to improve availability of MMF fabric.

Vinit Neb, Director, TR Alliance Co Ltd, Taiwan, said, “We are in every part of the value chain as this ensures efficiency and productivity. We do knowledge management continuously – learn from old orders, new orders and new things that enter the market and enhance our offerings. ”

May, Business Head, Wuyue Textile Group, China, said, “We are vertical suppliers and exporters doing weaving, dyeing and printing.