Global textile industry needs to work together: Schindler

24 Jul '14

2 min read

Despite the growing global competition, textile industry should continue to work together to strengthen each other, including investment in other countries and other aspects of cross-border cooperation, opines Christian P. Schindler, Director General of the International Textile Manufacturers Federation (ITMF).

Speaking at recently held conference in China, Mr. Schindler pointed out that China has become the world’s largest textile manufacturer, and various sub-sectors of the Chinese textile industry are also among the world’s leading.

He said China has increased competition in the global textile industry after joining the WTO. China has a relatively complete supply chain, and a large textile machinery industry, which will allow the country to maintain sufficient competitive advantage in the long-term, he added.

On the future development of the textile industry, Mr. Schindler said despite increased competition in the international market, the global textile industry needs to continue to work together to strengthen each other’s industry.

Giving examples of increased cross-border cooperation projects, he said many Chinese companies have acquired European textile machinery companies, while some Indian companies have invested and built textile factories in the United States, and some European and Chinese companies have invested in the African textile sector.

The global textile industry chain from production of fibre to final retail sales is undergoing transformation, which means that the global textile industry must respond to new market changes, continue to make appropriate adjustments, and seek innovation and cooperation, especially by building partnerships across the globe, while continuing to learn new knowledge and skills.

Analyzing the global textile machinery industry, Mr. Schindler said, in the short-term, Chinese spinning enterprises are likely to invest in equipment to improve their competitiveness. This along with the changes made in the cotton policy by the Chinese Government will present a more optimistic trend for the Asian and the world cotton textile machinery industry.

From the long-term perspective, the consumer market would grow as the world population grows. Along with this, there would also be a growth in global GDP, which is likely to be especially rapid in India, China and other countries. This will increase human consumption of textiles. So, the prospects for the development of the textile machinery industry are quite bright both for the traditional channels of applications as well as in newer applications, such as medical, geology, aviation, and other industries.

Fibre2fashion News Desk - India

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