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India'S Textile And Garment Industry Will Enter The Golden Period Of Development

2010/11/15 13:08:00 53

India

Mr. SunilKhandelwal, chief financial officer of Alok industry limited, said that China's development has reached a certain stage and is now a good opportunity for India's development.

The textile industry is brewing a great future ten years for India's textile industry.

There is no doubt that the textile industry will invest heavily in the next few years.

Industry experts have cast their eyes on India, whose growth rate reached 7.7% in GDP (World Bank 2009 forecast). India's textile and garment industry has great potential for development.

India's textile industry will soon enter the golden age.

The annual turnover of Alok industries is about 15 billion rupees.

Khandelwal refers to some important facts and figures.

He pointed out that according to the study of textile consultancy Technopak, the global textile trade is expected to increase from US $510 billion in 2009 to US $1 trillion in 2020, and the scale of India's textile industry will expand from US $70 billion in 2009 (about 47 billion US dollars or about 23 billion US dollars) to 220 billion US dollars in 2020 (about 140 billion US dollars in domestic exports and 80 billion US dollars), with an annual growth rate of about 11%.

He pointed out that India

textile industry

Some factors behind growth:

The supply of the US and EU has gradually decreased, and supply is shifting to low-cost Asian countries. Textile supply in China, India and other Asian countries will be greatly increased, and the EU market share is expected to continue to decline from around 30%.

China's world trade market share is about 31% (US $157 billion), and overseas buyers are looking for sources that can offset the risk of China's supply.

On the other hand, India's market share is 4.5% (US $23 billion), and by 2020 it will be expanded to 8% (US $80 billion).

- China

Domestic demand

The annual growth rate is about 15%, so China has no ability to create more textile export capacity.

- India is the only textile producing country in the world with surplus cotton. At the same time, India has a complete textile value chain.

- domestic per capita income growth, population growth, population structure improvement, organized retail business are increasing, these factors may promote the consumption of domestic textile market.

In addition, the domestic market is growing, and consumers are buying not only on holidays but also throughout the year. Consumer spending during the festival is 20% higher than that in normal months. During the Christmas and New Year holidays in India, the consumption of consumers in China is also 20% higher than that in normal months. Observations on offshore markets show that the impact of economic recession on consumers is not great. Overseas economy is gradually coming out of the trough, people's consumption is gradually warming, and demand for high-end products is beginning to revive.