India Vs Turkey
Will India be the next China? The debate is still on, while China is taking all necessary steps to keep its fortunes in textiles intact. Leave alone China! After attending the ITM Turkey a few weeks ago, the spotlight for some textile interested persons like me is now on Turkey and India.
Will India be the next China? The debate is still on, while China is taking all necessary steps to keep its fortunes in textiles intact. Leave alone China! After attending the ITM Turkey a few weeks ago, the spotlight for some textile interested persons like me is now on Turkey and India. I met an Indian textile technologist, now owning a yarn trading company in Turkey, who threw some light on India and Turkey during an informal discussion. It centred around a good comparison between the two countries in textiles. India has an abundant supply of raw materials, while Turkey has only cotton. India is a king in spinning and Turkey has some strong points in processing technologies. It was the lack of technological upgradation that is behind Indiaâ€™s snail-paced growth in textiles, he says. This certainly has hurt the internal demand, and also its export to western countries. One big advantage that Turkish firms have is the small-sized structure, which helps in speedy decisionmaking process. Another factor in favour of Turkey is its closeness to Europe, and also the preferential treatment it gets in western countries. However, India has certain plus points including the Government support, better saving rate and a phenomenal rise in the purchasing power of the growing middle class.
Turkey is not only a buyer of yarns from India, but also a fierce competitor with eyes on the western and new markets. There are potential areas of cooperation between both the countries, and if explored and tapped properly, it will lead to a boost in textile business for both the countries. Recently, Turkey has shown interest in sharing technology in processing and finishing with Indian companies.
Besides, for the first time ITAMMA from India and TEMSAD from Turkey, two associations representing the textile technology sides of the respective countries, have signed a pact for closer cooperation — a step in the right direction.