Once again I am here with one of my favorite topics, Indian textile economy. Since our dearest Prime Minister Narendra Modi has managed to take reins of modern India, we have witnessed some drastic changes.
We need to accept changes and cope up with the latest technologies of the world. One such program launched by Prime Minister Narendra Modi is MAKE IN INDIA.
This program is launched by Indian Government in 2015 to promote Indian as a manufacturing destination on an international level. According to Indian Government team, this program will be beneficial in terms of facilitating foreign investments, fostering innovations and boosting Indian economy.
Big brands like Mango, Zara has already invested in Indian textile market. Personally, I have loved this decision of Make In India. Lets talk about its impact on Indian textile market.
As you know Indian textile market is one of the ancient industries. India, being one of the major contributor of cotton-silk production globally has set goals to make the most out of this program.
From hand woven to technology driven industries, textile Industry of India is the biggest sector that can offer employment on large scale across nation. Hence, Make In India will be a boon to this industry for Indian economy.
India can definitely gain benefits from this MAKE IN INDIA program. We can leverage the benefits of skilled artists and other resources to reduce the cost of production compared to any other country.
Also, we can encourage farmers to grow more cotton by reducing prices of various resources that needs in cotton farming.
We should also facilitate hand-loom sector with some latest technology equipment to produce more cotton based products.
Recently I have observed that Handloom products are being demanded by modern audience. The launching of various handloom brands shows that the handloom era is back again.
Few fashion designers like Shruti sancheti, Rahul mishra, Gaurang shah has left no stone unturned in redefining handloom fashion globally.
Remember, It was 7th August 1905 when our dearest Bapu carried out by our dearest Bapu, Mahatma Gandhi. P.M Narendra modi launched the MAKE IN INDIA project on the same date 7th August 2015, when Gandhiji declared the Khadi project.
It was observed that until now, only Americans and Europeans were driving the Indian textile exports but now even Iran, Russia and South America is fostering relationship with India. Reduction of custom duty on importing raw resources like fiber and yarn has been a great boon.
What is your understanding of MAKE IN INDIA? Share your opinion in comment section.