To commemorate its achievements, the Ministry of Textiles (MoT) is going to organise an event on 5th January 2019. One of the interesting highlights of the event will be facilitation of outstanding young entrepreneurs (aged 45 or below) in textile sector.
According to a note of MoT, a committee has been formed to select such young entrepreneurs. Kulin Lalbhai, ED, Arvind Ltd., Ujwal Lahoti, Chairman, Texprocil and Sanjay Jain, Chairman, CITI are the members of this committee. There will be five awards in various categories like fibre, yarn & fabric, garment & madeups, technical textiles and special young women entrepreneur.
“The Indian textiles sector has been one of the mainstays of the Indian economy. The textile industry contributes to 7 per cent of industry output in value terms, 2 per cent of India’s GDP and 15 per cent of the country’s export earnings. With over 45 million people employed directly, the textile industry is one of the largest sources of employment generation in India. However, quite strangely, for an industry of its size and importance, it seems to keep a rather low profile. With the world moving towards 4th industrial revolution based on cyber physical systems, the Indian textile industry must take lead in industry 4.0 in view of the distinct advantage enjoyed by us in the IT sector. It is in this backdrop that the MoT has decided to encourage and felicitate young bright minds who have achieved outstanding success in Textiles and Clothing Business in recent years,” reads a note of MoT.