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Potential Indian market lures textile machine exporters
28
Jan '08
Indian textile and garment industry has experienced a rapid development during recent years. It has provided new business opportunities to sewing machinery enterprises.

China's textile machinery industry believes that Quanzhou textile and garment machinery industry has focused on the development of Southeast Asian markets in 2007, especially in Vietnam and other places. In 2008, the industry will turn its eyes towards Pakistan and India.

In 2006, India was the largest destination for China's sewing machinery exports. It exported more than 22,000 sets, out of which more than 10,000 sets were of embroidery machine. There was an increase of 63 percent. Experts believe that Indian market will continue to have a great demand for embroidery machines in long period.

According to the statistics provided by India Garment Association, the apparel industry will maintain a growth rate of 23 percent in investment of sewing machinery imports in 2006-2010. For a rapid and complete upgrade, the Association will continue to negotiate with the Government and ask for a further decline of five percentage points in import tax rates on textile machinery.

In recent years, many Indian textile and garment factories choose to import large quantities of textile and garment machinery from China. Currently about one-third of these machineries are purchased from China.

According to the industry experts, Quanzhou's sewing equipment manufacturers enjoyed a huge share in the Vietnamese market during 2007 and India is likely to become a hotspot for China's exports in 2008.

Fibre2fashion News Desk - China

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