India Has Abundant Raw Material Advantages, And The Prospect Of Textile Industry Is Bright

Technopak, a consultancy, said Monday that although India Textile industry At present, we are facing difficult times, but the future of the textile industry seems bright. By 2020, India's textile and clothing exports are expected to reach 80 billion US dollars, far higher than the 24.1 billion US dollars in 2010.

The consultant company expects that the global textile and clothing trade will reach US $1 trillion by 2020, compared with US $510 billion in 2009. Technopak said that the growth of developed countries is expected to slow down, while the growth of emerging economies, including Brazil, Russia, India and China, is expected to increase.

The study found that China and India are most suitable for developing long-term cooperative relationships with partners, because they are the most capable of consistently fulfilling contract conditions and delivering on time, and they have the potential to provide a full range of services, such as design and supply chain integration.

Technopak also highlighted the raw material issues of India and Pakistan. The company said that India has a rich advantage in raw materials because it benefits from cost and delivery time. Almost all man-made and natural yarns and fabrics, including cotton , polyester and rayon, India has supply bases.

As the fourth largest cotton producer in the world, Pakistan also has an excellent raw material base. Technopak expects Pakistan to remain strong in bed sheets and denim fabrics. However, the study found that countries such as Bangladesh, Vietnam, Indonesia and Cambodia are making efforts to build textile centers domestically. These countries are making hard times for major garment exporting countries. However, because they are product centric and slow in delivery, they are all facing supply chain constraints.

The report found that the recent flattening trend of India's clothing sector is due to the following four factors: the growth of GDP, the increase of alternative employment opportunities, the rise of the minimum wage, almost no economies of scale, and the lack of vertical integration.

The company said that despite the challenges, the prospects of the textile and clothing industry are very optimistic. He called on the government and industry to give support in four aspects, improve the processing technology, increase the production of synthetic fiber clothing, improve efficiency, and shift from traditional manufacturing centers, such as Delhi, Bangalore and Chennai, to low-cost centers. The company said that India has traditionally focused on Women's wear And knitted garments, there is now an opportunity to move to other categories, such as outerwear, formal wear and underwear.