The need for a homegrown textile brand was stressed upon by the commerce and industry minister Kamal Nath, while inaugurating the two-day Tex Summit 2007 in New Delhi.
The commerce ministry can support the textile ministry from its India Brand Equity Fund (IBEF) for developing such home brands internationally, said the minister.
In order to face challenges, the minister said that a strategy needs to be worked out bringing agricultural sector into the folds of industrial sector. “We have to think of a strategy so that a large number of people move from the agricultural sector into the industrial sector, and what better sector than the textile sector,” he said.
Nath also said that as India globalises, there would be challenges from new competitors like Bangladesh, Cambodia and Central American countries. Both the industry and the government will have to prepare and introspect with a view to facing new competition.
Also present during the inauguration was textile minister Shankersinh Vaghela. He said that as India maintains the quality paradigm regardless of the price, there should not be any comparisons with Chinese products.