Textile Industry: Focus on Competitiveness

More than 800 representatives of leading Russian and European companies, Government and the Ministry of Industry and Trade of Russia as well as industry experts took part in the forum that became a platform for dialogue between government and business community. The discussion centered upon government support measures that are required for further development of domestic textile industry, competitiveness of Russian products and implementation of import substitution.

It is planned to increase the share of domestic textiles on the Russian market up to 40% by 2020, Denis Manturov, the Minister of Industry and Trade of the Russian Federation said. “We have a considerable growth potential. We have to make a breakthrough that will help our manufacturers win back a considerable part of domestic market”, - the Head of the Ministry of Industry and Trade said. In his turn Konstantin Kuzin outlined the main measures that have to be implemented to support the competitiveness of the sector: government support to promote investments into technical re-equipment of Russian textile enterprises and protection of domestic market against unfair competition, illegal import and counterfeit products.

“Experience of the countries with developed textile industry shows that establishing favorable investment climate in the sector is possible only through implementation of state support mechanisms”, - Head of Megapolis Group Holding said. – “With regard to a significant role that textile industry plays in economic development the European governments grant banks all the required investment credit guarantees, provide for working legislative measures on decreasing of fiscal burden that enterprises under modernization bear”. Konstantin Kuzin demonstrated the effectiveness of investments into domestic textile industry modernization through growth rates of his DM Textile company, which is by now a leading Russian terry goods manufacturer and one of the best textile enterprises in Europe.