Our final session in the CAIF Collective Learning Series entitled “Building Back Better” addressed head on how the textile industry can bounce back from the pandemic. Held in partnership with Marks & Spencer’s India and featuring their sustainability heads as well as the head of the Tirupur Exporters Association, we discussed how various textile industry stakeholders could help heal the deep rooted fractures exposed by the COVID-19 crisis. If you missed our session, here is a quick recap.
Mr. Sarma was quick to get the ball rolling by expressing and tackling the obstacles within the working class sector. India has one of the largest global workforces, with a majority being migrant workers. Sadly, this pandemic ruptured this system, sending migrant workers scattering home. The panic and uncertainty surrounding these events had a cascading event causing manufacturing challenges, which lead to the downfall of retailers. However, his solution was simple – the need for the implementation of sustainability and circularity with an emphasis on worker impact.
Mr. Sarma also emphasized the need for brands to “walk the talk” through leadership and action. He believes that when you do not have safe dialoguing spaces like CAIF, companies tend to stick to their own rhetoric and collaborations are less likely to occur.
Lastly, Mr. Sarma placed a great focus on the need for incorporating entrepreneurs into the business model for both sustainability and social inclusion.
Mr. Shanmugham was clear on his stance that, “sustainability is going to be the main criteria, both pre and post COVID.” While he agrees that in this new normal, our priorities have shifted away from textiles (clothing), he is confident that this will eventually lead to new growth opportunities. And his bottom line? India must be vigilant to jump on this opening field.
Much like Mr. Sarma, Mr. Shanmugham too believes that a “trust based approach is required” for strengthening business relationships. This paired with refining the existing skill inventory is almost a sure fire way to boost our textile industry.
Mr. Rajagopal took a slightly different approach by directing our attention to the role of stakeholders. “The definition of the word ‘partnership’ has fallen apart” is what he had to say when discussing relations between stakeholders, manufacturers, and clients. He drew out the main complications in such relations by chalking them up to a lack of confidence across the board. However, through establishing trust by setting expectations and renovating and reexamining business models, he believes these relationships can be mended. Echoing Mr. Shanmugham’s thoughts, he too expressed that India must be ready to take advantage of the opportunities in the textile sector in a post-COVID era.
India is a significant textile hub, with lots to offer. In order for us to build back better, it is crucial to not only look at business models, but also have the appropriate mindset of trust and partnership.
Subscribe to our YouTube channel to watch other sessions from the CAIF Collective Learning Series in partnership with Sankalp Dialogues.