Ludhiana's Knitwear industry gears up to be globally competitive

Ludhiana, June 2 (ANI): Despite voices of global downturn and complaints of affected business industries persisting for long, the knitwear industry of Ludhiana is gearing up to adopt measures that will ensure that it remains competitive.

A Memorandum of Understanding was signed between the Federation of Knitwear, Textile and Allied Industries Association and Apex Cluster Development Services, a cluster development consultancy, to enable Ludhiana's knitwear industry competitive.

The consultancy firm will work on behalf of the Small Industries Development Bank of India (SIDBI), which has been entrusted with the task of implementing the Government of India project. Our major focus will be to help industry to use business development service providers intensively so that they can evolve some kind of professional pose in that production process. Not only that, this will also provide them new international and domestic markets, so that they can prepare themselves as a readiness to supply material, export or to supply material to retail chains. This programme is going to help them a lot. Globalization of industry so as a result they need to cut their cost and cost cutting can be done at different levels like one level is you reduce cost of production itself, the second is that you improve efficiency of factor of production, which you are using," said Rajveer Singh, Managing Director, Apex Cluster Development Services Pvt. Ltd.

This project will impact the appropriateness, cost effectiveness and capability of business development services to serve medium, small and medium enterprises, and enable the latter to be able to market their products in terms of global competitiveness.

The project will include sensitization, training, capacity building of service providers, information dissemination, and finance and credit facilitation.

It will also help in enabling business transactions between the industry and the service providers.

"India is a very big market, and so, foreign investors are keeping a tap on markets like cars and other things. It is not difficult for us to tap the market potential of our own country. We are trying to sell our products in local markets by developing quality products, bringing good products and technology and improving our manpower," said Narendra Miglani, Chief Coordinator, FEKTA.

In the MoU, it was mutually agreed that Apex Cluster Development Services will assist the knitwear industry towards building capacity to its members and by guiding them to improve their internal efficiencies in the supply chain to be globally competitive. By Karan Kapoor (ANI)