Surat: Prime Minister Narendra Modi recently conducted an extensive virtual meeting with prominent leaders of the textile industry, including representatives from Surat, to discuss strategies for establishing India as a global textile hub. The marathon session, which lasted over three hours, included high-ranking officials from the Ministry of Commerce and Industry and focused on addressing the challenges hindering the sector’s international competitiveness.

Key Demands for Economic Stability

During the meeting, industry leaders, including Jitendra Vakharia, President of the South Gujarat Textile Processors Association, presented several critical demands to the Prime Minister. The primary requests included:

• Reduction in bank interest rates and the provision of low-interest loans to support modernization.

• Stability in raw material prices to prevent financial losses during long-term export orders.

• Uninterrupted and affordable power supply to maintain consistent production cycles.

• Enhanced Cash Credit (CC) limits to help small-scale units overcome working capital shortages.

Impact of Global Conflict and Production Costs

Industry representatives expressed deep concern over the surge in coal prices caused by ongoing global conflicts. They warned that if these prices remain high and the war situation is not controlled, it will negatively impact not just the textile sector but various other industries as well. Leaders emphasized that the industry requires a stable supply of raw materials at consistent prices to remain competitive against international rivals, particularly China.

Surat’s Technological Leap

The meeting highlighted the changes in Surat’s textile landscape over the past five to seven years. Jitu Vakharia noted that the city now utilizes world-class technology, including Rapier Jacquard high-speed looms and advanced digital printing machines in hundreds of processing mills. While Surat is technically equipped, leaders argued that favorable government policies and financial relief are the final pieces needed to “ring the bell” in the global market.

Government Commitment to Industry Growth

Prime Minister Modi encouraged the 60 to 65 invited leaders to provide individual opinions, emphasizing that India possesses the necessary skills but must align them with global standards. In a show of support, the Prime Minister announced that any leader who could not present their points during the meeting is welcome to submit written suggestions within the next week.

Industry leaders have expressed renewed optimism following the interaction, believing that with the Prime Minister’s personal intervention and the proposed policy changes, India is well-positioned to dominate the international textile market. DeshGujarat