Fashion industry: Pakistan can grab significant share in exports: LCCI president

LAHORE: Technology and globalization have created lucrative opportunities for the fashion and textile industry of Pakistan which should be availed fully through a good approach and concentration on branding and marketing. These views were expressed by the President of Lahore Chamber of Commerce & Industry while presiding-over a seminar on “Latest Trends & Collaboration in Fashion and Textile Industry”, organized by the Standing Committee on Fashion & Textile Industry, at the LCCI.

LCCI Vice President Tahir Manzoor Chaudhry, Convener LCCI Standing Committee on Fashion & Textile Industry Nabeel Iftikhar Ahmed, former Senior Vice President Ali Hussam Asghar, Designer Sam Ali Dada, EC member Naeem Hanif, former EC member Khalid Jabbar, representatives from well-reputed fashion brands spoke on the occasion. LCCI President Mian Tariq Misbah said that the textile sector is considered the backbone of Pakistan’s economy and it holds great significance as Pakistan is the 8th largest exporter of textile products in Asia, 4th largest producer and 3rd largest consumer of cotton. He said that our textile sector comprises 46 percent of the total manufacturing sector and provides employment to 40 percent of the total labor force. It enjoys around 60% share in total exports. Its contribution to the national GDP is 8.5 percent and it employs around 15 million people, directly and indirectly.

Mian Tariq Misbah said that Pakistan’s fashion designing and textile industry has become an important component of national trade because of its export potential. The fashion and textile industry of Pakistan has tremendous depth to get a huge share in the international fashion market that is worth billions of dollars. He said that Pakistani entrepreneurs have successfully earned good names in the local fashion industry and developed various brands namely Limelight, Bareeze, Maria B, Uniworth, Rafhy, HSY, J., Khaadi and ChenOne etc., and many more are emerging with the passage of time. Some of them have been able to establish their brands in the international markets.

“I would like to commend the role of Pakistani women entrepreneurs that with the expansion and development of the fashion and textile sector, they have also geared up and are contributing significantly in taking this sector to new heights. I am of the view that Pakistan can grab a significant share in export of the fashion industry if it succeeds in catching the attention of foreign buyers”, Mian Tariq Misbah added. He said that there is a need to focus on value addition because it will help increase the profit margins in the export market. For example, Pakistan’s hand-made embroidery can be merged with the latest designs to expand the range of fashion industry for local as well as foreign buyers. He said that through enhancing collaboration and liaison among Textile sector and the fashion industry, we can succeed in getting the desired results.

The LCCI President said that the importance of forecasting the trends in apparel business requires certain techniques to safely anticipate the future. He appreciated the efforts of Nabeel Iftikhar Ahmed, Convener S/C on “Fashion & Textile Industry” for organizing the seminar in a befitting manner.

Vice President of the Lahore Chamber of Commerce & Industry Tahir Manzoor Chaudhry said that Pakistani entrepreneurs associated with the fashion industry need to be in tune with the modern requirements and be aware of the changing trends of the global market. He said that Pakistan’s fashion and textile sector can play an important role in promoting foreign trade.

Nabeel Iftikhar Ahmed, Convener S/C on Fashion & Textile Industry said that Pakistan’s fashion and textile industry has become an important dimension for the national economy because of its export potential. He said that decision makers should realize its significance in view of its huge potential for future expansion and give all possible facilities.

Copyright Business Recorder, 2021