India's largest global textile event, Bharat Tex 2024, is slated to be organised in New Delhi from February 26 to 29. With over 22 lakh square feet of exhibition area spread across two venues at Bharat Mandapam and Yashobhoomi, 46 MoUs are expected to be signed during the event, including international partnerships.
Exhibitors and buyers from over 110 countries are expected to participate in the four-day-long event, where all the value chain players in the textiles sector will be represented by 11 Export Promotion Councils, as India is aiming to integrate the fragmented value chain to reduce logistical challenges.
India is aiming to improve manufacturing competitiveness in the textiles sector via production linked incentive (PLI) schemes and Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks. However, the gestation period under the PLI scheme for textiles is till March 2024 and production is expected to start in the next financial year, government sources indicated. Even as greater engagement is being undertaken with stakeholders in the PLI schemes to speed up implementation, suggestions are being examined by the government.
Global textile companies including Coach, Tommy Hilfiger, Calvin Klein, Vero Moda, Coats, Toray, H&M, Gap, Target, Levi’s and Kohl's have already confirmed their presence at the Bharat Tex 2024. Global textile bodies and business delegations from textile hubs like the US, UK, Australia, Belgium, France, Spain, Sweden, Switzerland, Germany and the Netherlands are expected to participate in the event.
Sustainability and recycling initiatives by individual industry and clusters like Panipat, Tirupur and Surat, and a Textiles Grand Innovation Challenge to leverage the pool of untapped innovation opportunities will also be launched to identify futuristic circular solutions for scalability in India's textiles and apparel industry.
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