Textile Sector Eyes Global Expansion; India Delegation On Product Visits Japan | Business News
Let’s shift focus to the textile space then because India is actively exploring the new markets for textile exports aiming to capitalize on potential shifts in the global supply chains due to higher US tariffs on Bangladeshi garment imports. Sources tell ET now that the Indian government is aggressively pursuing new markets like a big focus is on Japan for its textile and garment sectors. My colleague Samir is here with more details on this. Samir, Indian government is constantly pushing for the new markets to increase the export basket for the textile industry and in the same direction Indian textile minister along with the industry representative met with the Japanese counterparts on 16th of July. What we are picking up from our sources that talks were held with the important Japanese player whether it be Uniqlo Pigas Yk and similar other prominent name. So from Indian side they they actually pitched with the strength that Indian textile industry has. For example these are the Indian textile players they are environmental and social uh compliant. They they can actually match to the Japanese requirement when it comes to the size part. So that alterations or the customization can be achieved. Moreover that assurance has also been given that if required then certain quality parameters can also be achieved or it can uh match up to that level. So that sort of assurance was given. Moreover, Indian textile industry has also mentioned that they have got a couple of refined cotton for example kasuri cotton which can actually meet up to Japanese requirement as well. So that’s a very important discussion held because Indian government understand that uh there’s a golden opportunity to increase the textile export basket to up to 20 to 35 billion. But if you see there’s a significant gap as of now India exported to Japan textile worth around $235 million whereas for financial year 2024 Japan imported uh textile globally of around $35 billion. So there’s a significant market that India can actually tap and that is the reason that now India is constantly pushing to Japan and other countries as well so that they can actually explore this market and enhance the uh export basket as well.
Textile Sector Eyes Global Expansion; India Delegation On Product Visits Japan | Business News
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