Europe is the biggest manufacturer of machinery in the global textile industry. Its high quality machines are the most sought after in the global textile industry till date. India, one of the biggest producers of textiles and textile products, imported textile machinery worth around 1003 million dollars in the year 2011-2012. Majority of it was from Europe, though importing machinery from Europe was two times costlier than purchasing machineries made in the country. German textile machines are considered to be of the best quality in the world. Spanish textile machines are also seeing a continuous growth in its exports. The countrys textile machinery exports rose by 17 percent in the year 2012. In fact, all the countries in Europe export a good number of textile machines all the year round, currently.
Until a few decades, European countries were considered the undoubted kings of this industry. But Chinese textile machineries have remained successful in providing some competition to them. Around 1980s, China signed a number of agreements with machinery manufacturers and exporting countries which eventually helped it develop its own textile machinery industry. The main aim was to make the country self dependent in terms of machineries. But gradually, as the industry progressed, China also began exporting textile machineries. Its machines are modern and inexpensive in comparison to many others in the industry.
Chinese textile machinery industry
China, it seems, may contribute immensely in the near future to the global textile machineries industry. The country is rising to become the next hotspot for its importers. China exported textile machineries (that were used in textile fiber, spinning, twisting, and winding) worth US$ 258.242 million in the year 2012. Chinese weaving machines are popular in particular, with their exports rising from US$ 56 million to US$ 206 million in the last five years. The industry brings the country revenue of around US$ 2 billion every year. It is expected to expand further in the coming years.
The country can earn a better profit margin with the export of machines than textiles or textile products. Western countries are generally seen to be exporting textile machineries in the global textile industry and reaping huge profits. For this reason, China is trying hard to boost its textile machinery manufacturing industry. There is demand for Chinese textile machineries in the international market, but it cannot be denied that there is still a long way to go for this industry. It has its shortcomings like uncompetitive machines as compared to its European counterparts and lesser infrastructure. But the pace with which this industry is progressing is commendable.