Govt plans 20 textile parks to boost industry

Source: ETRetail.com, Feb 01, 2016

aHaridwar: The Centre is in talks with Uttarakhand and some other states to set up 20 textile parks to boost the industry, Union minister Santosh Gangwar said here on Sunday. He added that the areas where these parks are set up will become industrial hubs.

“The central government has decided to set up 20 textile parks to boost textile industry in the country. It is already in talks with states, including Uttarakhand, so that land for these projects can be allotted,” he said. Read the rest of this entry »

Centre weaving textile policy to boost exports

Source: The Hindu Business Line, Jan 27, 2016

Mumbai: The Centre will soon unveil a textile policy to boost sagging exports and encourage investments in the sector. Inaugurating the 62nd National Garment Fair in Mumbai on Wednesday, Kavita Gupta, Textile Commissioner, said the draft of the new textile policy is ready and the final version would be announced soon.

“We see the slowdown in China as an opportunity and are looking at $40 billion of textiles exports this fiscal. The Textile Ministry would give full support to the industry in time of distress,” Gupta said. Textiles and clothing exports were at $41.4 billion in 2014-15 and $39.31 billion in 2013-14.

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India’s largest textile park to come up in Warangal

Source: The Economic Times, Jan 06, 2016

HYDERABAD: India’s largest textile park will come up in Telangana’s Warangal town, Chief Minister K. Chandrasekhar Rao announced on Wednesday. He said the proposed ‘cotton-to-garment’ park will be set up in an area of 2,000-3,000 acres. Read the rest of this entry »

TN to set up new textile park & allocate Rs 100 cr to fund MSMEs

Source: Business Standard, Sept 29, 2015

Chennai: Tamil Nadu Chief Minister J Jayalalithaa today announced new textile park and financial support for first generation entrepreneurs and MSME.In a statement under Rule 110 of the State Assembly, she said an integrated textile processing park will be set up in a 224 acre land at Thiruvadanai, Ramanathapuram district, at a cost of Rs 150 crore.

The park will have a water desalination plant of one crore litre capacity and 30 textile companies will be set up here at a budget of Rs 450 crore and will create direct employment to 6,000.

Jayalaltihaa said Tamilnadu Industrial Investment Corporation (TIIC) has been financially supporting first generation entrepreneurs and MSMEs to five further boost the state government would give Rs 100 crore as one-time capital for TIIC.

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Textile machinery market to double to Rs 45,000 crore in 7 years: Expert

Source: The Economic Times, Jan 15, 2015

MUMBAI: The size of India’s textile machinery industry is poised to double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore on the back of new projects and emphasis on setting up textile parks, an industry expert has said.

“The growth in the sector and upcoming new projects along with government’s initiative to set up textile parks may boost the textile machinery industry. The market size of the sector is set to double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore,” India ITME Society Chairman Sanjiv Lathia told PTI here.

Textile machines are used in fabrication and processing of fabrics, textiles, and other woven and non-woven materials. The industry witnessed a growth of 8-10 per cent to Rs 22,000 crore in 2014 from Rs 20,000 crore in 2013. Read the rest of this entry »

Technical textile sector to grow at 20 pc in next two years

Source: The Economic Times, Dec 09, 2014

MUMBAI: The country’s technical textile sector is expected to grow at 20 percent per annum in the next two years, Union Minister for Textiles Santosh Kumar Gangwar said here today.

“There is a huge potential for the technical textile sector to grow at 20 percent per annum during the next two years. Government has recognised the importance of technical textiles in the national economy as well as the potential for increasing production and exports in the sector,” Gangwar said, after launching curtain-raiser of TECHNOTEX 2015, an international exhibition and conference.

The fourth edition of TECHNOTEX, organised by FICCI in collaboration with the Ministry of Textiles, will be held from April 9-11 next year in Mumbai. As per the 12th Five Year Plan estimates, the market size of technical textiles is expected to grow at CAGR of 20 per cent and reach Rs 1,58,540 crore by 2016-17. The current market size is estimated to be Rs 1,09,659 crore.

Technical textiles include tyre cords, fabrics, airbags, industrial textiles, furniture lining, tents, fire services equipments, bullet proof jackets, parachutes, etc. The government has already approved setting up of 13 textile parks, entailing minimum investment of Rs 100 crore each, the minister said.

Textile Commissioner Kiran Soni said eight Centres of Excellence have been created for the technical textiles industry.

Indian textile industry has potential to touch $500 bilion by 2025

TextileNEW DELHI: The Indian textile industry has the potential to grow five-fold in the next ten years to touch $ 500 billion mark on the back of growing demand for polyester fabric, says a study.

A study by management consultancy firm Wazir Advisors and PCI Xylenes and Polyester says that the country’s textile industry, which is currently estimated at $ 108 billion, can grow to $ 500 billion by 2025.

This would be on the back of a host of reasons including shift in focus from cotton production to production of pollster textile, policy support by the government and investment on research and development, it added.

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