Textile accessory exports to touch Rs 200 billion – ITAMMA

07 Sep '09

1 min read

The sixty years old Indian Textile Accessories & Machinery Manufacturers' Association (ITAMMA) has set its sights on making India a global hub for manufacturing of textile accessories, considering that US and Europe based companies are shifting their operations to cost competitive countries.

ITAMMA aims to increase turnover from this textile sub-segment from the current Rs 65 billion to Rs 200 billion by the end of the next decade. It is also in the process of transforming itself, from a government liaison body to putting efforts in tying up for technology up-gradation and conducting market research for members.

The trade body also is projecting a increase in exports from Rs 6.5 billion to Rs 10 billion in the next five years, since most of its exporting members have already started focusing on new regions and existing buyer countries like Bangladesh, Vietnam, Indonesia, Pakistan, Uzbekistan and Far-east countries.

The members of the association are also upbeat and euphoric, since the time the technology up-gradation fund was announced by the Government of India, as it will mean better business opportunities in the domestic markets.

Fibre2fashion News Desk - India

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