The Federation of Indian Export Organisation (FIEO) is planning to set up a technical textile cluster in Tamil Nadu for start-ups. The cluster will have all common facilities including R&D, A Sakthivel, regional chairman, FIEO (Southern Region) said.
The organization is in talks with various agencies in this regard. Although, at present very few are into export of technical textiles, but there is immense potential for which the exporters need to look at product diversification to achieve higher growth.
Mr. Sakthivel said that commerce ministry should consider the present market situation and extend better facilities to the exporters in its mid-term review of Foreign Trade Policy.
After lowest growth during 2016, world trade is expected to be better during 2017 and 2018 at least in emerging economies. But the prices of all products have started to slide globally and this could pose a huge challenge for the product manufacturing sector in India.
India’s export performance data for January 2017 has been positive and has been so the last five months of the current fiscal after two years of continuous negative growth.
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