Home / Knowledge / News / Textiles / Textile sector likely to grow more than three times by 2020
Textile sector likely to grow more than three times by 2020
05
Feb '11
The government of India recently revealed that, the country's textile sector recruiting over 90 million people, is expected to grow by three times to become a $220 billion industry by 2020.

Textiles Minister Dayanidhi Maran recently while speaking at the inaugural function of the Tex Trends India said that, as per the calculations the local as well as the export turnover of the industry is likely to increase from the present $70 billion to $220 billion by 2020.

Tex Trends India is the first and only of its kind 'Made in India' textile fair which acquaints the world with India's textile and clothing potential.

The Minister said that, the show, which is going to be amongst Asia's biggest sourcing textile fair, would extend a platform to the Indian exporters where they can converge with the global buyers. He also stated that, such trade shows are likely to boost country's textile exports by $4.4 billion over the next five years.

Around 1,500 buyers from 159 countries like the Germany, US, UK, Canada and Turkey are participating in the show.

All across the globe, particularly in the US and the EU, growth in the retail sales figures serves to be a key indicator for assessing beforehand the nation's GDP growth and the market performance, and this even helps in formulating the policy response. Thus, this trade show is looked upon as an initiative which would help India to calibrate its policy response in lines with the global demand.

Finance Minister, Pranab Mukherjee, while speaking at the function, said that the government backs various development initiatives for the sector like technology up-gradation, betterment of the production process and development of the human resource.

Further, he even gave an assurance that, as the government gives priority to its commitments and allocates its resources to various sectors in larger interest of the country; the textile sector along with its rural facet too would get the preference it deserves.

Fibre2fashion News Desk - India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

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

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Pinkesh Jain
Everflow Petrofils Ltd

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

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Ashok Desai
Bombay Textile Research Association

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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