?In technical textiles, we are doing something, but not enough. There is a long journey, but we have not even started it. We have just only 2200 units in technical textiles in this whole big country. Even in the nine textile research associations, which have been entrusted with the tasks of Centres of Excellence, not much has been done. We need a lot more efforts,? the first few sentences from the Textile Commissioner, Dr Kavita Gupta.
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The top 10 markets in the world for textile and apparel constitute for 48 per cent of India’s total textile and apparel exports. The current global apparel market is worth $1.7 trillion and it constitutes around 2 per cent of the world’s GDP. The European Union, USA and China are the world’s largest apparel markets with a combined share of approximately 54 per cent.
India has great textile tradition dating back to centuries with stories of the famous ‘Dacca muslin’ getting around the world in older times. India’s textile sector is one of the oldest also dating back to centuries. Today also the textile sector is one of the largest contributors to India’s exports. After the agriculture sector it is the second largest employer giving employment to nearly 45 million people. It contributes to nearly 14 per cent of the industrial production and 4 per cent share of the GDP of the country. These figures are enough to highlight the importance of this sector to the nation.
The top 10 markets in the world for textile and apparel constitute for 48 per cent of India’s total textile and apparel exports. The current global apparel market is worth $1.7 trillion and it constitutes around 2 per cent of the world’s GDP. The European Union, USA and China are the world’s largest apparel markets with a combined share of approximately 54 per cent.
Gujarat has performed remarkably well, achieving an 18 per cent growth over the past decade since 2004, through policy support from both the Centre and State government.
The 6th edition of Techtextil India Symposium, scheduled for September 8-9, 2016 at Holiday Inn, Mumbai, will highlight the prowess of technical textiles and nonwovens sectors across the globe. Several editions of the conference have been held over the past years in Frankfurt, India, Middle East and Russia. In India, the symposium has been the centre of discussions, deliberations and dialogues among the key stakeholders.
The sharp rise of over 35 per cent in domestic cotton prices since May 2016 will squeeze ginners and spinners profitability by over 15 per cent, says India Ratings and Research (Ind-Ra). Ind-Ra expects prices to remain elevated around the current levels of Rs 120 per kg to Rs 127 per kg till the end of the cotton crop year of September 2016. The spike in cotton prices will adversely impact the profitability of pure cotton ginners and spinners due to their inability to pass on this steep increase to their customers, at once, due to decreasing cotton demand and increased competitiveness of manmade fibre.