Published on September 7, 2016
India is the second largest producer of textiles and garments in the world. The Indian textiles and apparel industry is anticipated to nurture to around USD 223 billion by 2021.
Home textiles maker Welspun is planning to begin pioneering textiles with HygroCotton technology by its premium brand Spaces Home & Beyond and would launch innovative textile products using this technology.
As per the recent report, China, the top importer of cotton yarn from India, has considerably condensed its sourcing in recent past. However, India continues to be the major supplier of cotton yarn for China.
Indian spun yarn exports in July 2016 stabbed 36% in volume terms and 36% in value terms as China has reduced import. Hence, Bangladesh became the largest importer of spun yarns from India in terms of value in July. Bangladesh imported spun yarns at an average price realization at USD3.10 a kg while China imported at an average unit price of USD2.57 a kg during the month.
As per the industry experts textile industry has made major contribution to the national economy. In near term with the development of innovative products industry will set strong domestic consumption as well as strong demand.
