Published on May 12, 2014

Recent news said that textile export is likely to grow this year due to increase in demand of Indian textile at global level. Indian textile industry has shown a good growth, sustained by domestic consumption. Industry analysts believe that Textile export is likely to grow by more than 15% during FY15.

Textile industry is one of the largest contributors to the export 0f Indian economy. Due to hike in textile export, related chemical industries are likely to see good growth. Recent news from Chinese market said that some changes made by Chinese government in their policies have affected Indian textile trade in China. Indian players believe that government should make some necessary changes to protect and stop declining export to Chinese market. Industry sources said that due to such issues this industry was not going from good face for the current week.

Industry analysts said that there is huge potential for technical textile in growing economy like India. They said that Indian technical textile players need to improve their value chain to accomplish the vast potential. ITTA (Indian Technical Textile Association) is working with Central government to help in growing technical textile market.