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Heimtextil India to see new impulses for home textile industry

13
Jan '10
As the single most effective trade fair for home textiles on the Indian subcontinent, Heimtextil India has shown resilience and business success for its exhibitors even in the weakest of market conditions, as was witnessed at the last event.

With strong indications of economic revival in the textile industry, Heimtextil India, will once again provide a trading platform for both Indian manufacturers and international visitors from October 11 - 13, 2010 at the Bombay Exhibition Centre, Goregaon (East), Mumbai. The recent global meltdown had led to many home furnishing manufacturers shutting shop. However, there is a glimmer of hope with the global textile industry taking a positive turn.

According to industry reports, the global home textile business, which is estimated to be worth $10 billion is expected to grow to $23 billion by 2010. Over the past couple of months home textile exporters are witnessing a 15 - 20% jump in their volumes from the US and the EU. These markets typically offer higher profit margins. Indian exporters are thus able to take advantage of this situation and rejuvenate their business. Under such conditions, a fair like Heimtextil India, offers the only professional meeting point for the industry.

India normally exports around 80% of home textile products to US and EU markets.With the renewed demand, Indian manufacturers, apart from looking at contract manufacturing and acquring global brands, are also expanding their retail presence in the overseas market. For instance, Alok Industries, the country„s second largest exporter of home textiles, is looking to expand its retail chain Home & Apparel overseas.“We have planned to scale up our number of stores by the end of 2010”, says Mr. Sunil Khandewal, the company's CFO.

Inaugurating Heimtextil India in 2009, Mr. A.B Joshi, Textile Commissioner, Ministry of Textiles, Government of India, commented, “Heimtextil India has impressed us with its excellent quality and presentations. We could observe buyers from all around the world. The event has been a great success and would be seen as a milestone in the country. The Ministry of Textiles is fully behind Messe Frankfurt India for the encouragement it is giving the industry by bringing these world class events to Mumbai”.

The mood in the Indian textile industry is currently upbeat with increased investments coming from the domestic and international markets.

The new budget in India, has allocated policies like the Technology Upgradation Scheme (TUFS) and the Scheme for Integrated Textile Parks, which will continue to spur modernization and attract investments resulting in imparting momentum to the scheme. The Union Minister of Textiles, Government of India, Mr. Dayanidhi Maran has hailed the budget proposals for the textile sector, as a growth spurring initatitive, which corresponds to the economic revival, infrastructure development, agriculture develpment, inclusive growth and restoring export growth.


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