Home / Knowledge / News / Textiles / Study paints better future for Indian textile sector
Study paints better future for Indian textile sector
30
Apr '15
After a bad year in 2014, India’s textile sector may just be turning the corner. According to textile sector outlook of Dun and Bradstreet, one of the world’s leading firms for commercial information and business insight, the manufacturing infrastructure in the textile sector is set to benefit from the Government’s ‘Make in India’ campaign which is expected to bolster domestic as well as export growth in the sector.

The report predicts domestic demand to pick up this year as economic growth sentiment improves.

Increasing labour cost in China is likely to slow down Chinese textile exports and thus create an opportunity for Indian mills to increase their market share. Export promotion measures would help the sector achieve its stated goal of $300 billion of exports by 2024-25.

Dun and Bradstreet said exports to Latin American and Asian countries would increase, so as to offset the slowdown in the euro. To lower dependency on the US and European markets, the Indian government is taking measures to encourage textile exporters to explore alternate markets in Latin America and Asia, the report said.

The report noted the signs of revival in investments in the textile sector. Capital investments in the textile sector is witnessing a revival with projects worth hundreds of crores of rupees being announced in the past six months. Several of these projects are scheduled to come online over the next couple of years, adding capacity in the sector when consumer demand is expected to fully revive from the current slump.

The report also aid Indian textile exports face tough competition from exports from Pakistan, Bangladesh, Vietnam and Cambodia. Favourable tariff measures enjoyed by these countries in European markets have directly impacted textile exports from India. While Indian textile exporters have to pay high duty to export to European markets, textile exports from Pakistan, Bangladesh and Cambodia are duty free.

In addition to increasing competition in European markets, Indian mills - especially cotton yarn manufacturers - also face the prospect of lower yarn demand from China, one of the largest markets. (SH)

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 29th Jun 2017

Amazon intends to keep investing and growing in India

American online retail giant Amazon intends to keep investing and...

Textiles | On 29th Jun 2017

Vietnam’s textile & garment exports cross $10bn till May

Vietnam earned $10... billion from textile and garment exports in the ...

Textiles | On 29th Jun 2017

Indian textile industry will reach new milestone by 2020

By 2020, textile technologies will be highly advanced not only with...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Pinkesh Jain
Everflow Petrofils Ltd

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

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

Tony Ward
Tony Ward

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

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X