Expert reckons textile machinery market to double in 7 years
16/01/2015 11:29
India's textile machinery industry is likely to grow two-fold in the next 7 years, buoyed by new projects and emphasis on setting up textile parks, said the media report. It is expected to rise double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore, according to India ITME Society. "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 media. 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. The Modi government's Make in India programme is also expected to help the textile sector by way of increase in demand for modern machineries, Lathia said.
16/01/2015 11:29
India's textile machinery industry is likely to grow two-fold in the next 7 years, buoyed by new projects and emphasis on setting up textile parks, said the media report. It is expected to rise double to Rs 45,000 crore in the next 7 years from the present Rs 22,000 crore, according to India ITME Society. "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 media. 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. The Modi government's Make in India programme is also expected to help the textile sector by way of increase in demand for modern machineries, Lathia said.
