Focus Domestic Share - a stitch in time move: Indian RMG exporters

03 Sep '10

4 min read

Detailing the growth figures he delved out that the Indian textile is in an unprecedented growth phase and is likely to grow at a rate of 15% p.a. for the next 5 years (exports 20% and domestic 10%). The present Indian Textile market is about USD 65 bn (Domestic - USD 43 bn and Exports - USD 22 bn) which is expected to grow to USD 115 bn (Domestic - USD 65 bn and Exports - USD 50 bn). In the next 5 years, i.e. from 2015 to 2020, the textile market is expected to grow to USD 200 bn with exports of USD 100 bn and domestic consumption of USD 100 bn, Mr Khandelwal opines.

Concluding the point, he made a note–“Looking to this unprecedented growth many domestic textile players have invested in Textile Industry and many are making plans to invest further. The growth potential of Indian textile market is attracting many foreign textile players in a big way.”

Replying on our question about level of competition then, and specifying about the trends of domestic demand as well as his company's position to cater them, Mr RL Toshniwal-CMD, Banswara Syntex Ltd- a completely vertical textile compan in India that exports to 52 countries, mentioned- “In domestic market the real demand is coming into the arena of formal trousers and shirtings. And as far as formal wear is concerned, there is more demand and small capacity manufacturers. Hence, our domestic suppliers are not ready for formal trouser. They can only cater to casual wear. Hardly, a few big players are there, and we are one of them. Therefore, I don't see competition threat to our business as we are old name in the industry and established too“

Fibre2fashion News Desk

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