World Textile Conference: TAI to host mega event

Mumbai is getting ready to host the mega World Textile Conference on May 6 and 7, 2011. Organized by The Textile Association India (TAI), the theme is ‘Vision 2020: Emerging New Business Opportunities Worldwide and Challenging Strategies.’ As D R

Mehta, President, TAI explains, “The year 2010 has seen Indian textile industry growing phenomenally. The industry is going through a golden period now. The atmosphere is very conducive and the central unit of TAI has taken up this challenge to bring further prominence and impetus to the Indian industry.” TAI is the foremost professional body, established 71 years ago, with more than 22,000 members and 27 affiliated units. TAI is not only India's but also the world's largest professional conclave.

The two-day mega conference aims to provide a positive opportunity, where the textile fraternity can benefit by discussing and networking to enhance cumulative strength. The conference perspective is managerial, commercial and business instead of being just a technical one. The main area of interaction will be the shifting focus in textile and apparel sourcing towards Asia and now India, which is potentially emerging as a strong alternative in Asia.

The conference will cover all the topics that are currently vital to the industry. “India offers large business opportunities and the two-day conference will throw light on some of these big opportunities including camouflage fabrics a potential opportunity of over $5billion; the opportunities of medical and technical textiles that India can grab among others,” says Arvind Sinha, Conference Chairman. In fact, one of the prime topics of discussion at the conference is to identify new business opportunities for India and Asia in apparel fabrics, home fashion fabrics, camouflage fabrics, medical textiles, coated fabrics, technical and defense textiles etc. Another important subject of discussion will be the Indian and international success stories and case studies in textiles and apparels; Is industry integrated in value chain to maximize growth; the developing industry in Vietnam, Bangladesh and Turkey; issues such as impact of global economic environment and along with financial issues such as IFRS, surviving in appreciating currency markets etc.

The conference assumes importance for India given that textile and apparel industry in the country, both domestic and exports is expected to grow from the current $70 billion to $ 220 billion by 2020, if the country keeps to its strategic plans. The Indian home textile market was estimated at $3.5 billion in 2009 and is expected to reach $9 billion by 2020. The technical textile market was estimated at $10.5 billion in 2009 and is expected to reach $31 billion by 2020. A total investment to the tune of $68 billion across the textile supply chain will be required by 2020 to tap the growing potential market including $14 billion in apparel and $19 billion in the processing sector estimates a Technopak study on the Indian industry.