Home / Knowledge / News / Textiles / Brexit may not impact textile machinery industry: ITME
Brexit may not impact textile machinery industry: ITME
27
Jun '16
The recent decision of the United Kingdom to pull out of the 28-member European Union, commonly referred to as Brexit, may not much impact the Indian textile machinery industry, according to the textile machinery manufacturers’ body India International Textile Machinery Exhibitions (ITME) Society.

“England is not a big buyer of textile machinery. Textile manufacturing moved away from England long ago to China. So we do not see much impact on Indian textile machinery manufacturing,” ITME Society chairman Sanjiv Lathia said in Hyderabad.

Lathia and India ITME Society Vice Chairman Rajendran were in Hyderabad in connection with the Roadshow of the 10th edition of India ITME 2016 exhibition, which is to be held from December 3-8, 2016, in Mumbai.

Around 1,000 exhibitors from 93 countries are expected to showcase the latest in textile engineering at the expo, which is expected to have around 1,50,000 visitors.

Brexit news has come just two days after the Centre announced a special package for the country’s textile and garment sector, which focuses on creation of 1 crore jobs as well as strengthening manufacturing and exports, Lathia said.

The textile sector employs more than 4.5 crore people directly and is one of the largest sources of employment generation in India. The sector accounts for 13 per cent of India’s export earnings, 14 per cent of industrial production, and 4 per cent of gross domestic product.

India’s textile and apparel market is likely to reach $220 billion by 2020, growing at an annual rate of 11 per cent. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search