Pearl Global honoured with AEPC Excellence Award for garment exports
L-R: Naren Goenka, chairman, AEPC; Minister of Textiles Piyush Goyal; Deepak Seth Chairman and Pallab Banerjee Managing Director of Pearl Global Industries. Pic: AEPC
Pearl Global Industries is a multinational textile supply chain company based in Gurugram, India. The award was accepted by Seth, and Pallab Banerjee, managing director of Pearl Global Industries.
During a discussion, Seth mentioned that several textile companies from Vietnam, Bangladesh, Sri Lanka, and other textile exporting countries are interested in investing in India. He suggested providing 'Plug and Play' facilities to foreign companies, noting that foreign investors are hesitant to acquire land and build factories. He argued that foreign direct investment (FDI) could be attracted by offering industrial space with 'Plug and Play' facilities on a long-term lease, which could lead to significant investment in India's textile sector.
Seth also recommended focusing on man-made textiles to increase India’s exports. He pointed out that cotton is only available for three to four months a year, limiting the expansion of cotton-based garments. In contrast, man-made garment exports have a vast potential due to the better availability of the fibre. By focusing on man-made garments and other products, India could diversify its product range and align with the global trend of dominance in the man-made fibre-based textile industry.
Fibre2Fashion News Desk (KD)