India : Don't be afraid of China, PM says at Texsummit2007

Following is the Text of the Prime Minister, Dr. Manmohan Singh's address at the Valedictory Session of Texsummit 2007 here.
"I am delighted to have this opportunity to listen to some of the problems at the Textiles Industry faces and this Valedictory Session of the Textiles Summit 2007 has served that purpose very well. I listen with great interest to the findings of the all working groups and I will ask the Ministry of Finance the Ministry of Commerce and Ministry of Textiles with the Manufacturing Competitive Council to sit together and to find durable productive pragmatic solutions to the various problems that the textiles industry faces in our country.
I therefore, compliment Shri ShankersinhJi and the Ministry of Textiles for organizing this two-day summit to discuss the problems and prospects of the textile sector. You have organized this conference at an opportune time when global opportunities for textiles are opening up rapidly and there is a need to exploit these to the fullest.
There are great opportunities with the dismantling the Multi-Fiber Agreement, there are immense opportunities the quota regime everywhere are going to end or have ended but there are also immense challenges that we have countries in East Asia, South-Asia and country like China which are aggressively planning to take full advantage of these new opportunities.
We don’t have to be afraid of this competition. I don’t believe, I think that the people of India want to hear that we can’t compete with the China. We have to meet the challenge of the competition, our standard of performance can’t be Chalta hai attitude but we must aspire to meet the challenge of competition head on weather it is from China of any other quarters in the worlds Govt. and industries must be active partners in making this future happen. That’s the destiny of India to be a great power and nothing can stop us from realizing that ambition.

As I have said, I have heard with great interest the outcome of your deliberations. The textiles sector is goes without saying is one of the great pillars of our industrial economy and therefore everything should be done to sustain and enhance its growth potential.
The Textile Sector has been a major pillar of our industrial economy for more than one reason, but importantly because of its employment potential and because it has contributed to the modernization of our economy. Its continued growth and global competitiveness is a matter of utmost national importance for our Government.
I assure you that our Government will pay the closest attention to the recommendations of the four Working Groups presented here. These will help us devise appropriate strategies to further promote the growth and competitiveness of this vital national industry.