Economy to pick up by year-end: TSR

He pointed out that by the year 2000 polyester sector prices will come in line with the international prices. Age has caught up with the powerloom sector and it needs revamping, he said.

Laying emphasis on the need to improve quality he said even the Indian consumer is today asking for better products. He pointed out that textileexports from the country was good, there was still a lot of scope for exports of specialty garments and out garments which are in demand. Indian textile exporters largely cater to the demands of the inner textiles and cotton.

He said the Indian mills should make available Indian cloths to the textile industry at an internationally competitive price so that the latter can cater to the domestic and the international markets in better way.

Earlier, in his presidential address, RK Dalmia, the president of the TAI pointed out various issues relating to the textile industry in the country. Dalmia said the industry was passing through difficult period due to the recessionary conditions in the domestic market besides the acute financial stringency and higher interest rates.