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Indian imports of Chinese textile machinery skyrocket

01
Mar '12
Indian imports of Chinese textile machinery skyrocketed by 47.54 percent over its previous year in 2011.

Alongside, the Indian textile sector also purchased around 23 percent of all the textile machinery and equipment exported by the Chinese textile machinery industry in 2011.

This makes India the biggest overseas market for Chinese textile machinery in the world, say figures provided by the China Textile Machinery Association (CTMA).

“India is the largest overseas market for Chinese textile machinery and is also the biggest reason for Chinese producers looking forward to setting up shop in India”, a top official of CTMA – Mr Zhao Xiaogang had told fibre2fashion recently.

China exported textile machinery amounting to US $1.22 billion in 2009 to worldwide markets, of which India imported worth $357.99 million.

In 2010, Indian imports of Chinese machinery dipped marginally to $354.71 million, against global shipments of $1.75 billion by textile machinery exporters.

However, Indian imports rose like a phoenix in 2011 to grow 47.54 percent to touch $523.37 million. In the same year, China globally exported textile machinery amounting to $2.24 billion.

Fibre2fashion News Desk - India


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