The Confederation of Indian Textile Industry (CITI) organized an event on textile and clothing industry in Ludhiana, on October 9, 2017. The inaugural address was on the Indian textile industry and significance of innovation and technology in the present competitive scenario.
A presentation from the ERP software point of view highlighted the emerging trends in global textile sector and gave innovative solutions and tools for addressing the challenges and capturing the global market. There were inputs on emerging new business models based on innovation and modern technology.
Delegates participated in the deliberations through questions-answers with panelists. Around 50 delegates participated in the event. CITI is the apex industry chamber of the entire textile value chain of India. With an increase in manufacturing costs globally, businesses are focusing more on enhancing productivity to improve the bottom line and new technology is playing a key role in achieving it.
Investing in innovative technology will ultimately result in offering the right product at the right price, which is important for a company’s profit. India is trying to improve its export competitiveness. To achieve this, the textile industry has to invest more in R&D and innovative technologies for achieving business excellence and improving productivity and product quality for taking the sector to new heights of success.