The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), Mumbai, the apex Export Promotion Council of MMFT exporters organized a seminar on Thriving Indian Man Made Fibre Textiles – A Myriad of Opportunities on 18th December 2018 at ‘Liva Studio’,Tiruppur in association with SIMA and Grasim Industries Ltd.
The Seminar was intended to create awareness amongst the textile community in and around Tiruppur region about the prospects for further growth of Man-made fibre textiles and bring more textile manufacturers and traders as members of SRTEPC.
Mr. Murali Balkrishna, Joint Director opened the session by welcoming the gathering of about 50 guests and invited the distinguished Chief guest Mr. Durai Palanisamy, Director, Pallavaa Group & Member-Committee of Administration, SRTEPC, Mr. S. Balaraju, Executive Director, SRTEPC, Mr. D. Jayaraman, Asst. Director (Head-Spinning), SITRA, Mr. M. Natarajan, Asst. VP (Sales & Marketing), Zonal Head (Southern Region) Grasim Industries Ltd, Mr. M. Balasubramanian, Dy. Director & Officer In-Charge, Regional OTxC, Coimbatore and Mr. M. Duraisamy, Past Chairman, PDEXCIL and MD, Surya Cotton Mills Ltd. He thanked Mr. M. Natarajan for supporting the Council in its endeavor to promote manufacture and exports of MMFT in the textile cluster of Tirupur. He spoke of the need for partnership and collaboration of likeminded associations and companies to further the cause of MMFT in these clusters.
Mr. M. Natarajan presented the distinguished guests with bouquets.
Mr. Durai Palanisami in his Keynote Address spoke about the huge opportunity for manufacturers in the South to get into exports of MMFT. While he agreed that the domestic market is huge, he pointed out that situations like the demonetization and GST implementation which resulted in lower business in the domestic market could be offset by being present in exports and hence it is imperative to have a backup plan in place. He spoke of the high per capita consumption of textiles globally and the low consumption in India which presented a great opportunity for Indian Manufacturers and exporters. The limitations of natural fibre meant that the gap had to be filled by MMFT and its blends. He urged the audience to the benefit of the expertise of organizations such as SRTEPC and Grasim Industries.
Mr. S. Balaraju, Executive Director, SRTEPC presented the Council and its services to the audience. He delved at length on the role played by the Council to protect the domestic industry and the policy changes facilitated by the Council through its continuous and effective representations. He spoke of the refunds in GST, Duty Drawback, ROSL etc facilitated by SRTEPC to its member exporters. The Executive Director with his in-depth knowledge on MMFT briefly touched upon the current market scenario of MMFT in the world. He informed the gathering that India is the largest supplier of MMFT products in the world after China and supplies it to over 150 countries. “There is a tremendous growth in the global textile market with huge demand for MMFT products and we should take advantage of the rising demand in the overseas market” said the Executive Director. He praised SIMA, Grasim Industries Ltd. and other Clusters in the region for playing an important role in developing the MMFT sector in Southern India. “The Ministry of Textiles, Government of India has always supported and encouraged by providing necessary incentives and other benefits to help our industry to grow” conveyed by the ED. He also said that the onus now lies on the individual companies to take advantage of the myriad of opportunities and urged the guests in attendance to be part of the SRTEPC family by becoming member and take benefit of various services and initiatives undertaken by the Council to assist exporters in their development and growth. He also informed them about the activities planned for the next financial year.