Bharat tex 2024 will be inaugurated by PM Modi today on the 26th of February 2024. Bharat tex 2024 will be the largest-ever global textile event organised in Bharat. It will continue till the 29th of February 2024. The Bharat tex 2024 global expo will be held in Bharat Mandapam and Yashobhumi in New Delhi. Moreover, It will showcase more than 3500 brands and 10000 textile products.
The event is inspired by the 5F Vision of the Prime Minister. It has a unified focus on the entire textiles value chain, from farms to foreign customers via fibre, fabric, and fashion. It aims to showcase India’s expertise in the textile sector and reinforce its global position as a textile powerhouse.
Bharat tex 2024 Expo
Bharat Tex 2024 is a four-day event organised by a consortium of 11 Textile Export Promotion Councils. It is been done with the support of the government. The event is focused on promoting trade and investment in the textile industry, with an overarching emphasis on sustainability. The event will feature more than 65 knowledge sessions with over 100 global panellists discussing various issues relevant to the sector. There will be dedicated pavilions on sustainability and circularity. Moreover, in the ‘Indi Haat’, there will be fashion presentations on diverse themes such as Indian textile heritage, sustainability, and global designs. Furthermore, in the Indi Haat, there will be interactive fabric testing zones and product demonstrations.
Bharat Tex 2024 is expected to host policymakers and global CEOs, over 3,500 exhibitors, more than 3,000 overseas buyers from over 100 countries, and more than 40,000 business visitors. Additionally, it will also be attended by textile students, weavers, artisans, and textile workers. The event is expected to witness over 50 announcements and MoUs being signed. That will provide further impetus to investment and trade in the textile sector, and help boost exports. This will be another significant step towards realizing the Prime Minister’s vision of Aatmanirbhar Bharat and Viksit Bharat.
Bharat Tex 2024 for the Indian Textile Industry
The textile industry in India has a rich history and plays a significant role in the country’s economy. Bharat tex 2024 will boost the industry and overcome the challenges. Here are some achievements and challenges faced by the Indian textile industry:
Achievements of the Indian Textile Industry:
- Global Competitiveness: India is one of the largest producers of textiles and garments globally, with a strong presence in both domestic and international markets. The industry has achieved significant competitiveness in terms of quality, cost, and variety.
- Diverse Range of Products: India’s textile industry is known for its diverse range of products, including cotton, silk, wool, jute, and synthetic fibres. This diversity allows the industry to cater to various segments of the market, both domestically and internationally.
- Employment Generation: The textile sector is one of the largest employers in India, providing direct employment to millions of people, especially in rural areas where textile production is a significant source of livelihood.
- Export Growth: India is a major exporter of textiles and garments, contributing significantly to foreign exchange earnings. The industry has shown consistent growth in exports over the years, capitalizing on its competitive advantage in terms of labour cost and skilled workforce.
- Innovation and Technology Adoption: Indian textile companies have increasingly focused on innovation and technology adoption to enhance productivity, quality, and sustainability. This includes the adoption of advanced machinery, processes, and eco-friendly practices.
Challenges to overcome in the Bharat Tex 2024:
- Infrastructure Constraints: The Indian textile industry faces challenges related to infrastructure, including inadequate transportation facilities, power shortages, and outdated machinery. These infrastructural constraints hamper the industry’s competitiveness and efficiency.
- Competition from Low-Cost Countries: Indian textile manufacturers face stiff competition from low-cost countries such as Bangladesh, Vietnam, and China. These countries often have lower production costs and enjoy preferential trade agreements, posing a challenge to Indian exporters.
- Skill Shortages: Despite being a labour-intensive industry, the textile sector in India faces skill shortages. Particularly in specialized areas such as design, technology, and management. Addressing this skill gap is crucial for enhancing productivity and competitiveness.
- Environmental Sustainability: The textile industry is often criticized for its environmental impact, including water pollution, chemical usage, and waste generation. Achieving sustainability goals while maintaining competitiveness remains a significant challenge for Indian textile companies.
- Policy and Regulatory Issues: The industry faces various policy and regulatory challenges, such as complex taxation, cumbersome compliance procedures, and inconsistent government policies. Streamlining regulations and providing policy support can help foster a conducive business environment for the textile sector.
The Indian textile industry has achieved significant progress in terms of production, exports, and employment opportunities. However, it is crucial to address some critical challenges to ensure long-term growth and competitiveness. These challenges include infrastructure constraints, global competition, skill shortages, environmental sustainability, and policy issues.