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Saturday, 7 July 2018

ITAMMA Predicts That Indian Textile Sector Is All Set To Outdo China

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The Indian Textiles Accessories and Machinery Manufacturers Association (ITAMMA) have come out with a positive prediction about the Indian textile sector’s competitiveness. According to their findings, India is likely to outdo China in the textile sector. They cite the contributing factors as cheaper labour and modernization. ITAMMA also cited that the state of Tamil Nadu has a major role to play in this success.


The ITAMMA official disclosed that Tamil Nadu alone accounted for 39% of the total textile production in the country. On the occasion of ITAMMA’s product-cum-catalogue show, he was interacting with media persons. According to the official, “The domestic textile industry was expected to reach a production level of USD 350 billion from the current USD 100 billion. India had the potential to export textiles and apparels worth USD 300 billion by 2024-25 from its current USD 40 billion.”


Furnishing statistics in support of the claim, the official said, “There were 4.13 lakh handlooms in Tamil Nadu providing employment to 6.08 lakh weavers while the 3.66 lakh powerlooms and 1,889 spinning mills provided employment to another 2.40 lakh people. Knitwear and woven garment production units provided employment to over five lakh people. With quality and skilled labour and machinery, India could easily overcome Chinese competition in the textile industry as labour costs in China were very high compared to India.”


“High-tech machines which help deliver quality goods will enable us to reach the set targets at the production level, and the roadshow will have many such machines and products on display. Textile retailers and manufacturers can use the event platform for their machinery needs,” he added.


Source: http://www.textileexcellence.com