If you ask many an Italian textile machinery company, what are the factors behind their success, they mostly point out to two elements: Tradition & Innovation. For years, these companies have upheld the great values of their tradition, and by spending 5 per cent of their turnover constantly year after year on research and development (R&D), they have given priority to innovation.
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Many specialised yarns are gaining importance in recent times over conventional yarns, elaborates an ITJ exclusive feature. It was a trickle a decade ago, but now speciality yarns are flooding the market. Boom in fashion, fast growth of technical textiles and newly emerging areas like leisurewear and sportswear are fueling the growth of speciality yarns.
If you ask many an Italian textile machinery company, what are the factors behind their success, they mostly point out to two elements: Tradition & Innovation. For years, these companies have upheld the great values of their tradition, and by spending 5 per cent of their turnover constantly year after year on research and development (R&D), they have given priority to innovation.
The global technical textile market is growing along with new innovations and developments. While a large part of the demand comes from developed countries, the increasing industrialisation and development of emerging countries is driving the growth of the overall market. The United States is the largest market for consumption of technical textile products, accounting for a share of 23 per cent followed by western Europe, China and Japan with a share of 22 per cent, 13 per cent and 7 per cent respectively.
The Free Trade Agreement between India and EU will be signed at the earliest since the dialogues between the two countries have been revived, said Rashmi Verma, Union Secretary (Textiles), said at the inaugural of the 42nd India Knit Fair.
While Bangladesh, India and Pakistan are expecting higher exports of readymade garment (RMG) to the U.S. and European Union (EU), exports from the East Asian giant China and start-ups Cambodia and Vietnam are the on decline.
The US Department of Agriculture (USDA) has raised India’s cotton export forecast in April 2016 on account of increased demand form Pakistan. India’s exports are boosted 250,000 bales to 5.8 million on strong demand, especially from Pakistan, USDA said in its latest report. “Strong textile exports, especially of apparel and bed wear, have forced Pakistan’s textile sector to look to imported cotton, especially from India, to make up for a significantly smaller crop,†according to the report.