The Indian Textile Journal hosted “Textile Business E-Conference†on 17th February 2021 with an aim to provide a platform to all stakeholders to exchange ideas, collaborate and draw the roadmap for the future.
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It is also worth noting that Asian and Oceanic countries have nearly 80 to 90 per cent share in shipments of all the segments of textile machinery.
Dollar has been hardening, making Indian textile and clothing exporters happy. With negligible import content for the domestic industry, and the Government’s bid to curb cheaper import, good times are ahead, reveals the ITJ Cover Story.
With participation from 39 countries, the event had a total 168 exhibitors. The event also had participation from various States.
Indian textile and apparel market is estimated at $118 billion, 69% of which is domestic consumption while exports constitute the rest 31%.
The global apparel consumption in 2016 is estimated to be $1.7 trillion, which formed around 2 per cent of the world GDP of $73.5 trillion. EU-28 was the largest apparel consumer market worth $400 billion, which was followed by markets of the USA, China and Japan. These top four markets together constituted approximately 62 per cent of the global apparel consumption.
The theme of this year’s conference was ‘Advantage India: Emerging Global Manufacturing Hub for Technical Textiles’ and it made an attempt to chalk out a roadmap to make India a global manufacturing hub for technical textiles.
The Cotton Council International is organising an invitation-only seminar on September 29 at Trident, Mumbai, which will offer useful insights on the present scenario of cotton and cotton textile industry in India.