Coimbatore: Mr. Sakthivel, Regional Chairman, FIEO (Southern Region), said that the Federation of Indian Export Organisation (FIEO) is in talks with various agencies to set up a technical textile cluster in Tamil Nadu, where common facilities, including R&D, could be provided for start-ups. Stating that very few are into export of technical textiles at present, he said the potential is immense, but exporters would have to look at product diversification to achieve higher growth. After lowest growth during 2016, world trade is expected to be better during 2017 and 2018 at least in emerging economies. But the prices of all products have started to slide globally and this could pose a huge challenge for the product manufacturing sector in India
Mr. Sakthivel also said that the Commerce Ministry should consider the present market situation and extend better facilities to the exporters in its mid-term review of Foreign Trade Policy.