CITI Diamond Jubilee Celebrations Ends on a High Note

Wednesday, 28th November 2018, New Delhi: The Hon’ble Vice President of India Shri M. Venkaiah Naidu, inaugurated CITI’s Diamond Jubilee Celebrations – Global Textiles Conclave 2018 (CITI GTC 2018) on 27th November 2018, at Vigyan Bhawan, New Delhi. The entire textile and clothing industry was overwhelmed with the presence of the Hon’ble Vice President of India who attended the Conclave as the Chief Guest. The Hon’ble Union Minister of Textiles Smt. Smriti Zubin Irani also graced the occasion with her presence and delivered the Keynote Address in the Inaugural Session.

The Hon’ble Vice President addressed the audience by his motivational speech and requested the T&C Industry to carry forward the old age long tradition started by the skilled craftsman of the Indian textile industry. He also stressed that in the ancient time the Indian textile industry had the largest share in the growth of India’s economy, while today, it has been mere reduced to 4% of the GDP.

Speaking at the Session, Hon’ble Vice President of India Shri M. Venkaiah Naidu stated that disruptions lead to innovations and transformations which should be focus area for textiles and apparel sector. Mr. Naidu also advised the industry to focus on backward and forward integration, value addition and diversifying products. He stated that according to the projections, Indian textile and apparel industry has the potential to grow at a CAGR of 14% and reach US$ 300 billion by 2025 from US$ 150 billion achieved in the year 2017. The exports are expected to receive boost in the wake of trade agreements with ASEAN and the proposed agreement with China, he added. He also said that industry should consolidate MSME sector by establishing Hubs and Spoke model of cluster development facilities, give major thrust to skill development, upgrade technology and adopt Industry 4.0. The industry also needs to adopt lean manufacturing systems to remain globally competitive.

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