Page 74 - New Cloth Market December 2022 Digital Edition

NEWS BRIEFS

dian industry has dramatically increased production to fulfil
the increasing demands of the domestic as well as ex-
port markets. India now expects industry growth at 8%
CAGR to reach $100 billion by 2030. This target would
help India double its share of the global textile and appar-
el trade from the current level of 5%.
As the demand for man-made fibre (MMF) textiles all over
the world is increasing as a substitute for cotton amid
changes in global fashion trends, Intex India exhibition
would offer international manufacturers & suppliers op-
portunities to explore new business and investment ave-
nues in India under this sector and increase their supply-
chain to fulfil the demand for sourcing innovative, eco-
friendly and functional textiles which is much needed by
the Indian apparel and fashion industry. Further, to increase
its global market share, Indian manufacturers are produc-
ing a value-added range of garments and fashion acces-
sories for the global buyers to increase their sourcing from
India and reduce their dependency from China. Also, In-
tex platform will assist the domestic apparel industry to
offer high-value and sustainable garments to the fashion
conscious and high-spending Gen Z and millennials con-
sumers.

Intex India has been organised with the purpose to accel-
erate this growth by supporting it through a strong busi-
ness platform. To further strengthen industry, Intex India
will see the presence of international suppliers from Chi-
na, Korea, Thailand, Belarus, Italy, USA, Vietnam, Uzbeki-
stan, Sri Lanka, Bangladesh & others. Through these and
other initiatives Intex India will accelerate India’s overall
textile & apparel manufacturing and export capabilities in
a concrete manner through various initiatives during the
expo.
This year at Intex India, The Federation of Indian Cham-
bers of Commerce & Industry (FICCI) under the aegis of
the Department of Commerce, Ministry of Commerce,
Government of India along with Worldex India Exhibition
& Promotion Pvt. Ltd. jointly organised a ‘Reverse Buyer
Seller Meet’ (RBSM) offering participating Indian exhibi-
tors to promote their latest collections and connect with
global buyers at the show. The RBSM empowered Indian
textile players to scout for new business in developed
and emerging markets, forge international connections,
explore new markets opportunities, learn about buyers’
requirements and stay up-to-date with industry develop-
ments. More than 500 B2B meetings organised between
the international buyers and Indian exhibitors over 3 days,
which would result in boosting India’s textile exports by
$650 million in the coming years. This increases India’s
export base and creates employment opportunities by
supporting the ‘Make in India’ program.
In order to give a boost to the micro & small entrepre-
neurs’ in the textile sector, Ministry of Micro, Small and
Medium Enterprises (MSME) extended their support to

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