Bright Future For Indian Textile Industry
Introduction
The textile industry in India is substantial and largely diversified. It is hard to cover all its aspects even within hourlong presentation however research team of Fibre2fashion.com has attempted to gather significant pieces of massively complicated puzzle of this industry.
The Indian textile industry roots thousands of years back. After the European industry insurrection Indian textile sector also witnessed considerable development in industrial aspects. Textile industry plays an important role in the terms of revenue generation in Indian economy. The significance of the textile industry is also due to its contribution in the industrial production employment. Currently it is the second largest employment provider after agriculture and provides employment to more than 30mn people.
Prospect
Considering the continual capital investments in the textile industry the Govt. of India may extend the Technology Upgradation Fund Scheme TUFS by the end of the 11th Five Year Plan till 20112012 in order to support the industry. Indian textile industry is massively investing to meet the targeted output of 85bn by the end of 2010 aiming exports of 50bn. There is huge development foreseen in Indian textile exports from the 17bn attained in 200506 to 50bn by 200910. The estimation for the exports in the current financial year is about 19bn. There is substantial potential in Indian exports of technical textiles and hometextiles as most European companies want to set up facilities nearby the emerging markets such as China and India.
The global demand for apparel and woven textiles is likely to grow by 25 percent by year 2010 to over 35mn tons and Asia will be responsible for 85 percent output of this growth. The woven products output will also rise in Central and Southern American countries however at a reasonable speed. On the other hand in major developed countries the output of woven products will remain stable. Weaving process is conducted to make fabrics for a broad range of clothing assortment including shirts jeans sportswear skirts dresses protective clothing etc. and also used in nonapparel uses like technical automotive medical etc…
It is been forecasted that the woven textile and apparel markets will sustain their growth from current till 2010. The imports of apparel and textiles will rise from developed economies like the USA and the western countries of Europe and Japan along with some newly emerged economies such as South Korea and Taiwan. Certainly import growth has been witnessed vertical rise in the previous year.
Apparel is the most preferred and important of all the other applications. Woven fabrics are widely used in apparel assortments including innerwear outerwear nightwear and underwear as well as in specialized apparels like protective clothing and sportswear. Home textile also contributes considerably in woven fabric in products assortments like curtains furnishing fabrics carpets table cloths etc.
Special kind of woven fabrics are utilized in medical as well as industrial applications. The medical applications include adhesives dressing bandages plasters etc.
Where as industrial applications includes;
Geotextile interior upholstery trim airbags and seat belts and lyre fabrics.
Sailcloth tent and fabrics used architectures transportation and tarpaulins.
And many more applications…
The Indian Industry foresees huge demand for industrial woven products for medical and automotive applications. Demand for woven fabrics is anticipated to be rise vertically in the sector of home textiles.
Non woven sector has great future in terms of global demand thus major facilities of cotton yarn are currently concentrating just on home textiles. It is mandatory that the peak management of the cotton yarn manufacturers analyze the future prospect and growing graph of demand for non woven products.
Conclusion
Anticipating massive growth in medical and automobile sectors these sectors assures substantial demand for non woven facilities in India. Albeit home textiles also will lure higher demand there are specific demands for home textile facilities also.
The 7th Five Year Plan has huge consideration on agricultural growth that also includes cotton textile industry resulting a prosperous future forecast for the textile industry in India. Indian cotton yarn manufacturers should rush forward for joint ventures and integrated plans for establishing processing and weaving facilities in home textiles and technical textiles in order to meet export target of 50bn and a total textile production of 85bn by 20092010.
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