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India dreams of capturing 8-9 per cent of the total global trade by 2020, however looking at the present scenario, it may capture a share of only 5-6 per cent by 2020.
Plain Vanilla will not work in 2020
India’s textile sector is under stress with 2019 turning out to be a challenging year. The country’s exports of textile and apparel declined by 4.3 per cent to $22 billion in the first seven months of FY2020 (April-November). While cotton yarn was a major casualty with 37 per cent decline (whereby exports to China alone halved), growth of apparel exports continued to be anemic.
2019 in review: The year that was
The production of the Textile Engineering Industry (TEI) recorded a decrease of 1 per cent viz. Rs 6,865 crore in 2018-19 as against Rs 6,900 crore achieved during 2017-18.
1 more feather in India-ITME Society’s cap
Today the events by INDIA ITME Society are globally acknowledged by not only the textile and textile engineering industry but also has become landmark event and pride for India.
VDMA summit focuses on mechanical engineering
The 6th VDMA Mechanical Engineering Summit was held on September 8, 2017 at Hotel Sheraton Grand, Bengaluru, which was attended by more than 220 people. India is the second-largest sales market in Asia for the German engineering industry.
Robust spinning segment raises machinery output
The production of the textile engineering industry (TEI) during 2016-17 recorded a nominal increase of 1 per cent to `6,650 crore as against `6,580 crore achieved during the previous year, mainly due the substantial increase in production of spinning machinery. Spinning machinery sector is expected to raise their production further during 2017-18.
How machines help improve daily life?
On the occasion of its 125th anniversary, the VDMA has put together a series of multimedia reports. Published on the new website https://humans-machines-progress.com the reports show: Machines are not an end in itself for the machinery engineering industry.
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