As the fast pace of change in fashions is drastically shrinking farm – to-shop floor lead time; stakeholders in the entire textile product supply chain, including weavers need to make rapid responses,” Mr Sanjay Jayavarthanavelu, Deputy Chairman, CII Southern Region, and Chairman & Managing Director, Lakshmi Machine Works Limited said.
Delivering the Keynote Address at the inaugural session of WEAVES a four day textile expo cum conference in Erode, organised by the Confederation of Indian Industry, and Texvalley, Mr.Jayavarthanavelu said, skill development, adoption of technology and global trade practices are imperative for the weaving sector to ac hieve its full potential.
MrJayavarthanavelu pointed out that compared to spinning, the supply chain representing weaving, finishing, and processing has to catch up in terms of adopting standards, robustness, and modernization. He said that textile sector is going to stay in the State, due to availability of raw materials, local demand, skilled people, tradition, culture, and the spirit of innovation.
In his Inaugural Address, Dr B K KrishnarajVanavarayar, Chairman, BharatiyaVidyaBhavan, and Past Chairman, Confederation of Textile Industry, said with 7% of total industrial output, 4% of GDP, and 25% of total exports earning textile sector’s contribution to the economy was high. A huge volume of exports without having to import virtually anything is the hall mark of its importance, It has the potential to become a US$ 250 billion industry by 2019. The State has over 5.75 lakh weaving machines in operation currently he said.
Mr A Sakthivel, Vice Chairman, AEPC & Regional Chairman, FIEO, said that Tamil Nadu accounts for 60% of exports of yarn and fabrics, and 85% of knitwear. Together, they provide about 40 lakh direct jobs. Mr D P Kumar, Executive Director, Erode Textile Mall Pvt Ltd (Texvalley) and Mr P Periyasamy, Chairman, Erode Textile Mall Pvt Ltd (Texvalley), were anmong those who spoke.