Advertise Here [468 W x 60 H pixels]
Web Exclusive | November 2017

India’s textile market to touch $250 bn in 2 years

India’s textile sector accounts for 10 per cent of the country’s manufacturing production, 5 per cent of its GDP, and 13 per cent of its export earnings, said a study released by the Associated Chambers of Commerce and Industry of India (ASSOCHAM). The size of the textile market is expected to touch $250 billion in two years from the current $150 billion.

The sector is the second largest employer, absorbing 51 million directly and 68 million indirectly in 2015-16, the joint study by ASSOCHAM and financial advisory services provider Resurgent India Limited released recently at the ASSOCHAM conference on ‘Women in Textiles & Handicrafts Industry: Weaving the Threads of Livelihood’ in New Delhi, found. However, over 17,600 workers were affected by the closure of 67 textile units in the last three years, an ASSOCHAM press release said quoting the study.

Demonetisation and the transition to the goods and services tax (GST) regime have hit smaller players hard. The GST rollout has further hit small and medium players in textile hubs, such as Surat, Bhiwadi and Ichalkaranji. Capital goods firms are struggling as most of the downstream sectors are saddled with excess capacity and low demand, says the study.

Though about half of the people employed in the handlooms, handicrafts and sericulture sectors are estimated to be women, their percentage in the organised sector is extremely low, garment manufacturing being an exception.

Post your comment
Name:  
Email:    
Comments:  
Verification Code:   Change Image


 
Advertise Here [728 W x 90 H pixels]
Arun Textile Engineers Pvt Ltd      Arvind Rub-Web Controls Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Bharat Bijilee Ltd      Condair      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fourwents Engineering Co.      Gandhi Automation Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Konica Electronics Enterprise      Labelmach      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine works Ltd      Loepfe Brothers Ltd (Masterline)      Nestling Technologies      Peass Industrial Engineers Pvt Ltd      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Savio Texcone (P) Ltd      SRE Corporation      Stakall      Staubli AG      Stovec Industries Ltd      Texfab Engineers (India) Pvt Ltd      The Southern Gujarat Chamber of Commerce and Industry      Thymas Electronics Pvt Ltd      Weavetech Engineering Pvt Ltd      Arun Textile Engineers Pvt Ltd      Arvind Rub-Web Controls Ltd      Autotex Ancillaries Pvt Ltd      B & R Industrial Automation Pvt Ltd      Best Power Equipments India Pvt Ltd      Bharat Beams Pvt Ltd      Bharat Bijilee Ltd      Condair      Elgi Electric and Industries Ltd      Embee Corporation      Eppinger Tooling Asia Pvt Ltd      Excel Traders      Fourwents Engineering Co.      Gandhi Automation Pvt Ltd      K.U. Sodalamuthu and Co. Pvt Ltd      Konica Electronics Enterprise      Labelmach      Lakshmi Card Clothing Mfg Co. Pvt Ltd      Lakshmi Machine works Ltd      Loepfe Brothers Ltd (Masterline)      Nestling Technologies      Peass Industrial Engineers Pvt Ltd      Prashant West Point Machinery Pvt. Ltd      Premier Evolvics Pvt Ltd      Rabatex Industries      Savio Texcone (P) Ltd      SRE Corporation      Stakall      Staubli AG      Stovec Industries Ltd      Texfab Engineers (India) Pvt Ltd      The Southern Gujarat Chamber of Commerce and Industry      Thymas Electronics Pvt Ltd      Weavetech Engineering Pvt Ltd