MSME units (specifically Gujarat based units) of Indian textile sector have received good response in the trade fairs held in three cities of the US by South Gujarat Chamber of Commerce and Industry (SGCCI). MSME exporters are expecting orders of apparel, home textiles and fabrics worth Rs. 80-120 cr ($10-15 mn) from the trade events.
Last month, SGCCI organised its first Global Textile Trade Fair (GTTF) in the US to promote the world’s second largest man-made fibre (MMF) manufacturing hub based at Surat. GTTF was held at three places—Atlanta (Georgia), New Jersey, and Los Angeles.
As a platform to strengthen the textile trade relations between both countries, GTTF presented textile stakeholders of India and the US an opportunity to discuss business possibilities, joint ventures, and technology transfers, to take the textile trade between both countries to the next level.
Speaking, on returning from his US trip after attending GTTF at three places, SGCCI President Ashish P Gujarati said, “This is a good time for MSME exporters. They can expect good orders from the US as their cost of production is lower than merchant exporters and large-sized manufacturing exporters.” He said that there was good response not only for apparel, but also for home textiles and fabrics. The participating exporters feel there is huge demand for viscose and pure silk fabrics also.
The SGCI President said the response to the exhibition will boost confidence in current challenging conditions. “It is the right time to replace the textiles products of China with textile products of India. The buyers were from sourcing houses, boutique owners, US Hotel and Motel Association members, Hospital association members etc,” said Gujarati.
He informed that SGCCI signed an MoU with the Atlanta Chamber of Commerce and Industry for textiles and diamonds industries, for demand and supply. “A team from Direct Resource Group of Atlanta and members of Hotel and Motel Association will be visiting Surat in the coming months to explore more business opportunities.”
India’s apparel export to the US was $4.405 bn in 2021 and $2.929 bn in 2020. The export was $2.281 bn in first four months of this year, according to market insight tool TexPro.
Home textiles exports from India to the US were valued at $4.745 bn in 2021 and $3.321 bn in 2020. The export was $1.472 bn during January-April 2022, as per TexPro. Fabrics exports stood at $0.552 bn in 2021, $0.367 bn in 2020, and $0.197 bn in first four months of 2022.