India Unveils ‘Bharat Park’ in UAE to Boost Global Apparel Trade
In a strategic move to enhance India’s global apparel presence, Union Minister of Textiles & Commerce, Piyush Goyal, announced plans for a ‘Bharat Park’ in the UAE during the Export Awards function of The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC). The park will house showrooms and warehouses, allowing countries worldwide to seamlessly purchase Indian apparel, leveraging the secure payment system in the UAE.
Goyal emphasized the future significance of Man-Made Fibre Textiles (MMF) and discussed the need for India to capitalize on Free Trade Agreements (FTA) with nations like Japan, Australia, and South Korea. Expressing concern over underutilization of FTA benefits in India, he encouraged maximizing these agreements for mutual economic growth.
Highlighting the sector’s challenges, Goyal announced a significant investment of Rs. 40 crore by the Bureau of Indian Standards (BIS) to establish 21 testing laboratories across India, addressing the quality standards in apparel manufacturing.
Bhadresh Dodhia, Chairman of SRTEPC, acknowledged the challenges faced by the MMF textiles sector, including a GST-related inverted duty structure. He urged the government to consider a uniform GST rate for the entire value chain, covering fibers, yarns, and fabrics.
Despite facing a negative growth of (-) 15.3% in MMF textiles exports in 2022-23, Dodhia expressed confidence that exports would rebound, targeting over US$ 6 billion for MMF textiles and over US$ 3 billion for technical textiles in 2023-24. SRTEPC, soon to be known as ‘MATEXIL,’ aims to achieve export targets of US$ 11 billion and US$ 10 billion for MMF and technical textiles, respectively, by 2030.
The Export Awards ceremony recognized industry leaders, with Reliance Industries receiving multiple accolades. Dodhia Synthetics Ltd., Banswara Syntex Ltd., D’ Decor, Grasim, and Vardhman Textiles were among the esteemed awardees. The event also honored Rakesh Mehra with the Lifetime Achievement Award and recognized women entrepreneurs, exemplified by Ms. Neha Jhunjhunwala.
This initiative signals India’s commitment to strengthening its position in the global apparel market and fostering sustainable growth in the textile industry.