Tashkent, Uzbekistan (UzDaily.com) -- Tashkent hosted a forum on the topic "Digital textile: Development of the textile industry through IT solutions".

Currently, there is an active process of digitalization all over the world. Given that the textile industry plays an important role in the global industry, which is currently more than US$1 trillion, the introduction of digital solutions, new technologies is a timely and relevant task in order to remain competitive and relevant in the global market.

As we watch how digitalization is transforming the textile industry, we are witnessing the fourth industrial revolution. However, digital transformation brings with it both opportunities and risks. To navigate this complex landscape with care and foresight, we must understand and use digital technologies correctly.

The forum presented the New Digital Strategy for the Development of the Textile Industry of Uzbekistan, which includes the current directions in which the industry should develop further.

At the same time, there was a presentation of new digital projects of the Uztekstilprom Association - 1fintex, uzbtextile and the Textile Makon media center, providing the opportunity to move to a new level of development, i.e. digital transformation.

It is worth noting that the Uztekstilprom Association, through such a forum, declares the transformation of its activities towards the provision of consulting services through the "Single Window" system, which is also a product of digitalization. In this regard, the association strongly supports and promotes projects that ensure the transformation of the production format: from cost-effective models to smart production, digital factories, product creation taking into account the interests of the end user, using IT technologies, etc.

Now the textile industry is only at the beginning of its digitalization journey and in order for us to create a sustainable and circular textile industry, future professionals must understand and use all the possibilities of digitalization to save costs and resources. Only in this way can the world’s oldest industry be fundamentally changed.

The 1fintex project is a financial platform where small businesses can sell commercial receivables in exchange for cash.

The platform allows exporters to sell their invoices online, attract investors, sell at a discount, receive funds in 3-5 days, and plan cash receipts in advance.

In developed countries, financing based on such mechanisms is replacing traditional bank loans and gaining a growing position. Such mechanisms allow enterprises to receive working capital without collateral and plan cash receipts.

The uzbtextile project is a textile B2B trading platform that simplifies the connection of buyers from all over the world with suppliers of Uzbek textiles and helps the state and Uztekstilprom achieve export plans.

The user-friendly interface and functions of the platform make it possible to quickly and efficiently search for suppliers and buyers of textile products from all over the world, receive new purchase orders, and receive information about the latest trends in the textile industry. It also contributes to the export of small and medium-sized manufacturers and save on the promotion of the company.

The Textile Makon project is a one-of-a-kind media center offering a wide range of media, marketing, branding and PR services for the development of the textile industry and companies, such as professionally voiced audio and video projects, photo reports and photo portfolios, reports, stories, shows, as well as organizing interviews, master classes, reality shows.