Home / Knowledge / News / Textiles / 'Indian textile sector to touch $250 billion by 2019'
'Indian textile sector to touch $250 billion by 2019'
07
Jul '17
The Indian textile industry will grow in size to be a $250 billion market in the next two years from $150 billion now as the sector has tremendous growth potential, according to textile commissioner Kavita Gupta. Currently the domestic market of the country is estimated to be a $110 billion market, while the country exports textiles of $40 billion.

A lot of optimism has been created in the textile sector in the last two years, said Gupta while addressing the audience at the inauguration of the 6th edition of 'HGH India 2017'. She added that multiple schemes have been introduced to upgrade technology used in the sector and extend financial aid to it.

The Centre had announced the capital investment subsidy which was introduced in segments such as garment, weaving, technical textile and made ups to help the sector, stated Gupta. Rebate on state levies were introduced to promote exports and additional 10 per cent subsidy on made ups and garment segments, leading to home textile industry getting a 25 per cent capital investment subsidy on new machine.

The government is now working towards modernising machines and adding state-of-the-art facilities, as per Gupta.

She also said that subsidies are beneficial for the industry and it needs to utilise schemes introduced by the government. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Textiles | On 19th Jul 2018

Kenya to use Sh6 bn Indian loan to upgrade Rivatex

Kenya will use a Sh6 billion loan from India’s Exim Bank to expand...

Vietnam's textile-garment export turnover $16 bn in H1 '18

Apparel/Garments | On 19th Jul 2018

Vietnam's textile-garment export turnover $16 bn in H1 '18

Vietnam is among the world's five biggest textile exporters and...

Pak govt urged to restore associations' role in DDT claims

Apparel/Garments | On 19th Jul 2018

Pak govt urged to restore associations' role in DDT claims

Pakistani value-added textile industry recently urged the caretaker...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search