The industry went through many ups and downs during the year which was marked by a lot of uncertainty and anxiety related to both the market and government policy (including delay in TUF extension).
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India is a big country, and has the potential to grow further and become a major trade partner for Italy. Biancalani has excellent working relationships with Indian textile clients, who understand very well the possibilities offered by our machines.
The golden era has already begun. India stands to gain a lot now because China is almost done. They are no longer a big name in the market. Our population is also growing and especially there are more & more young men & women under 30, which obviously will boost consumption of textiles in the coming decade.
The year 2013 has witnessed mixed fortunes for yarns and fabric. After initial brightness there has been sluggishness. Of course there appears to be little relief ahead in view of some movements.
Indian textile industry is the second largest in the world, next to China. But the gap between the No 1 and No 2 is huge. If we go back to the 50s, India used to have a larger market share in the textile & clothing – say about 13 per cent.
With every passing this year now, our confidence is improving. There are a few structural changes which I think have happened to the textile industry over the last several years and the most important being that this generally the demand and supply balance has been restored.
We expect a good cotton and signs are already there. With this there will be certainly good export of yarn and garments in 2014. China is already importing a lot of cotton yarn, particularly up to 60s count.