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.
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After registering a decline of about 9 per cent in cotton season (CS) 2018-19, India’s cotton production is likely to witness a double-digit growth of about 16 per cent in CS 2019-20 with production at 6.6 billion kg during the year on back of favourable monsoon as well as increased MSP that led to increased cotton crop sowing. For CS20, the acreage under cotton is estimated to have marginally increased by about 1.3 per cent to 12.8 million hectares.
The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) is one of the oldest Export Promotion Councils in India. The council has played a transforming role over the years, inculcating export culture and promoting exports of Indian man-made fibre (MMF) and textiles.
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.
Import of textiles industry spare parts has been continuously rising from China and trend will be continued this year as well, say industry experts.
An industry growing at a CAGR of 20 per cent to reach $28.7 billion, technical textiles is one of the most dynamic sectors in India. Techtextil India 2019, the leading platform to source products using technical textiles, reflects the industry with the biggest opening received this year.
An industry growing at a CAGR of 20 per cent to reach $28.7 billion, technical textiles is one of the most dynamic sectors in India.