India Is Heavily Invested In Textile Machinery And Become A Major Producer Of Spinning And Weaving Products.

Abolition of quota system

2 billion US dollars to invest in textile machinery and equipment

　　 India textile and clothing The industry has been waiting for an opportunity, but it must face fierce competition with China and Pakistan, and at the same time invest about US $100 billion to modernize the textile manufacturing industry. The textile industry in India has long been troubled by inefficient management, lagging behind in the introduction of modern production processes and increasing number of export constraints.

In order to integrate with international textile standards, the India government has invested 2 billion US dollars in the transformation of textile machinery and equipment and the introduction of modern textile production technology to improve its own line production capacity and product quality level. Up to now, more than 70% textile processing factories in India have exceeded the level of modernization in China and Pakistan. At the same time, the government has formulated relevant preferential policies in introducing foreign investment, vigorously supporting the development of textile enterprises.

According to a survey conducted by the India practical economic research association in 2005, after the abolition of the quota system, it is estimated that the export volume of textiles and clothing in India will reach 15 billion US dollars in 2007, indicating that the level of US $30 billion in 2012 is entirely possible. According to the annual growth rate of 40% to 42%, the committee said that India should move towards the goal of becoming the "world's largest textile exporters".

Not negative Public expectations

Become the second largest exporter of textile and clothing in the world

According to the "Asian Textile Alliance" report, according to the recent information released by the United Nations commodity trade statistics database (UNComtrade), India has defeated its competitors such as Italy, Germany and Bangladesh to become the second largest textile exporters in the world, and China still maintains its leading position.

VirenderUppal, chairman of the India Clothing Export Promotion Council (AEPC), said: "despite the slow economic recovery in Europe and the United States, the global economic downturn and persistent inflation, we are still doing our best to get to this position. It is not easy. The government's diversification policy and product base provide us with a description that we venture into new markets and pay huge dividends. We have also used our advantages and practical experience to attract many international buyers.

India textile accounted for 17.5% of global textile exports in 2013. At present, India's textile exports amount to US $4 billion 20 million. The growth rate of global textile exports is only 4.7%, while India has defeated mainland China and Bangladesh, and its textile export growth rate has reached 23%. The growth rate of exports from China and Bangladesh is 11.4% and 15.4% respectively. This growth is staggering.

　　 in addition In the 2014-15 fiscal year budget proposed by the government of India, the budget for the textile upgrading and upgrading Fund (TechnologyUpgradationFundScheme) to 23 billion rupees will continue to increase the expenditure of related funds. In order to encourage the export of garments, the import and export of decorative accessories for export garments will be increased to 5% of the export value of garments. In addition, 6 textile and textile machinery industries will be developed.