India'S Textile Industry Is Hopeful That The Government Will Support More Than 500 Billion Dollars In 2025.

The textile industry in India is currently creating a value of $108 billion. If the industry gets more support from the government, it is expected to exceed US $500 billion in 2025.

The research published by textile and polyester consulting firm Wazir Advisors and PCI Xylenes & Polyesters said that if India achieves this pcendence, it will create not only 3 million 500 thousand jobs but also 200 billion dollars of investment.

According to recent reports in India, Prashant Agarwal, general manager of Wazir Advisors consulting company, said: "at present, the total domestic textile market in India is US $68 billion, while the export market is US $40 billion.

The total market size of the future market will reach US $500 billion, and the domestic market and export market will be US $315 billion and US $185 billion respectively.

"We believe

There is great potential for growth in textile industry and clothing value chain.

But the government of India should give more support to this industry, especially the textile value chain based on man-made fibers.

India's textile industry accounts for 5.2% of the world's trade volume, much lower than China's. But the global share of China in the future may be reduced to 5%, which will stimulate India's exports to 185 billion dollars.

India

It is necessary to complete its major pformation in mixed fibers.

Occupy 55%, and 50% of the world's fiber consumption is polyester fiber, and this situation will continue.

The India market is also consuming more artificial fibers, because the price of cotton products fluctuates greatly.

But in the next five years, India will consume more polyester fibers than cotton, which will increase the market size of polyester fiber to 1 million 500 thousand tons.

At the same time, the world-famous clothing brands have set up more and more stores in India, and the women's wear market has also increased significantly. In some organized retail stores, there are more and more private brand clothing.

Wazir and PCI have decided to set up the "polyester textile Investment Promotion Center", prompting producers in India and overseas to understand industry information, find investment opportunities and form joint ventures.