Says economic tailwind, political stability to infuse growth
Finally, once again Narendra Modi will be the Prime Minister of India and National Democratic Alliance (NDA) is going to form the government for the second successive term. Majority of Indian textile and apparel industry is happy with the way Bharatiya Janata Party (BJP) has won with absolute majority, as it is a common belief that a stable political and economic scenario will go a long way in supporting the industry.
It is well known that the Indian textile industry has not been performing well for last few years and apparel export too has gone quite stagnant, so in this scenario, a stable government will definitely be a good factor for the industry. Immediately after the trend was clear that India is going to have the same Government, Apparel Resources approached some well-known Indian apparel manufacturers and explored their opinion about this mandate. 90 per cent of them made it loud and clear that this mandate will bring more positivity to the industry.
Apart from stability, another important point that is the cause of happiness for the industry is that the Modi Government and the entire system is very much aware about the industry’s issues, as well as the current status of the industry, and when you have the same ecosystem, it is comparatively easier to take quick action. The strong and positive image of Prime Minister at the international level is also an advantage for the segment, focusing on export as other countries are now looking towards India.
The industry is divided on the question as to who will get the portfolio of the textile minister. Some industry leaders believe that it really matters as the minister is their representative to the Prime Minister and other concerned ministries. A leading exporter shared on the request of anonymity that irrespective of political aspect, the Prime Minister will also keep in mind the previous performance of a minister.
Some of the apparel manufacturers across the country shared that it hardly matters if the government doesn’t take the industry on priority, as so far none of the previous governments have considered the textile industry as their prime focus. The focus was always on handloom, artisans.
BJP or NDA candidates are leading among the major textile and apparel hubs (except from South India) like Surat, Ahmedabad, Delhi-NCR, Bangalore and Jaipur. Industry leaders believe it is also in the favour of the industry as things become comparatively easier when local representatives belonging to the ruling party are in power.
“An aspirational India has reposed its faith in Modi’s leadership. A strong and stable Government would enhance the investment climate and propel the economy towards higher growth and inclusive development,” – B.K. Goenka, Chairman of Welspun India, Mumbai and President, The Associated Chambers of Commerce and Industry of India (Assocham)
“Our people have given a thumping majority again to a determined, decisive and a proven leader to bring back our country to the glorious days and development for all walks of life with inclusive growth. We are confident that under Narendra Modi regime, the country will see peace, prosperity, pride and growth in the industry, including exports.” He further added that Tirupureans stand by your mission of Tirupur Knitwear Business reaching Rs. 1 lakh crore by 2022 from the current level of Rs. 50,000 crore and contribute effectively for making ‘New India’,” – Raja M. Shanmugham, President, Tirupur Exporters’ Association (TEA)
“I am hopeful that more FDI will come to Indian textile and clothing industry as our country has strong stability be it political or financial. I wish that Smriti Irani should become Textile minister again as she has a better understanding of textile and apparel industry and especially of the domestic market too which is the main concern of CMAI,” – Rahul Mehta, President, Clothing Manufacturers Association of India (CMAI)
“Apparel export community strongly believes that with the Modi Government again, ease of doing business in India will improve. No doubt, Modi Government has brought more system and transparency into the working culture,” – HKL Magu, Chairman, Apparel Export Promotion Council (AEPC)
“We welcome Modi Government and expect that the industry will get proper support. Before elections, we had met BJP senior leader Prakash Javadekar and he assured to support and improve the overall industry. Even a plan is scheduled for the same,” – Rajiv Dewan, President, Garment Exporters Association of Rajasthan (GEAR)
“Definitely the point of stability is making industry happy. At the same time, it needs to be addressed that the industry is not performing good. We hope that the textile and apparel industry should not be neglected more,” – Sanjay Jain, President, Confederation of Indian Textile Industry (CITI)