Signals are positively clear. Textile market in most of the regions the world over is bouncing back.

Good news have come from industry and government officials: US and European markets, which account for 30 - 35 per cent of textile exports from India, have seen revival of demand across different sectors. With the revival of demand in Western markets, India's textile exports may grow up to $ 24 billion in 2010 - 11 from an estimated $ 20 billion in the previous fiscal. The textile exports are set to move in tune with the country's overall exports, which have been growing for six months since November, 2009. But some industry sources are worried. Their contention is that since there has been a steep rise in cotton prices, which shot up by over 20 per cent in the past six months, resulting in higher fabric costs, the target is possible provided the Government continues some regulations on cotton and cotton yarn exports.

Orders are improving and demand for fabric has also gone up, says Confederation of Indian Textile Industry (CITI). The exporters are also exploring new markets like Africa, Latin America and Oceania. Clothing market demand in Asia and Oceania is forecast to grow by an average of 10.9% per annum between 2009 and 2014, according to a report by the business information company Textiles Intelligence. As a result, demand will be worth US$ 267 billion by the end of the five-year period compared with US$ 159 billion at the beginning. Within the region, growth in China alone is set to average 18.9% per annum. As a result, clothing market demand in China will reach US$ 87 billion by 2014 compared with US$37 billion in 2009. This represents an increase in market size of US$ 50 billion in absolute terms, which equates to almost half the increase in the region as a whole.

At this crucial juncture the international machinery exhibition, ITMA ASIA + CITME opens in Shanghai. All eyes are on the textile mills in India, which should go for investment to build a foundation for further growth to achieve the targets.