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Markets: Textile sector set for a 10% CAGR through to 2030

Fiinews by Fiinews
July 5, 2024
in Markets
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Gartex to host textile solutions from China, Italy, Japan, Singapore, Taiwan and the US

The market for Indian textiles and apparel is projected to grow at a 10% CAGR to reach US$350 billion by 2030 with the exports expected to reach US$100 billion, according to https://www.ibef.org/ .

The Indian textile sector is further expected to be strengthened by the innovations from the manufacturers of fabrics, garments and apparel, textile machinery companies https://www.bseindia.com/ , allied industries and future plans and policies from the Indian government, it added in a market outlook ahead of an international event next month https://www.makeinindia.com/ .

The growth backing factors for the stakeholders of the Indian textile http://ministryoftextiles.gov.in value chain are:

Anticipation of a boost in the manufacturing sector;

Signing of the FTAs;

The recent growth in the textile exports https://fieo.org/ ;

and the Indian government’s focus on making India a ‘global manufacturing hub’.

This optimistic industry outlook is also evident in the spirit of the textile technology and apparel manufacturing players participating in the upcoming Gartex Texprocess India https://www.gartexindia.com/ which is scheduled from 1 – 3 August 2024 at Yashobhoomi (IICC), Dwarka, New Delhi.

Regardless of the global economic and political landscape, the recent surge reported in textile exports and apparel at 9.59% and 9.70%, respectively, in May 2024 as cited by the Confederation of Indian Textile Industry (CITI) https://citiindia.org/ , marks a positive sign uplifting the spirits of the Indian textile players https://www.nseindia.com/ .

As India’s leading expo covering garment and textile #manufacturing, denim, accessories, textile printing #technologies and more, Gartex Texprocess India is slated to showcase 600+ brands, spread over an area of 15,000 sqm at Yashobhoomi (IICC), Dwarka, New Delhi. Besides India, the upcoming edition will demonstrate the global excellence in textile solutions from countries like #China, #Italy, #Japan, #Singapore, #Taiwan and the #US.

The show floor is sold out with leading Indian brands like AT Inks https://www.atinks.com/ , Aura Technologies https://aura.company/ , BABA Textile Machinery https://www.babamachinery.net/ , Benz Embroidery https://www.benz-emb.com/ , Britomatics India https://www.britomatics.com/ , Chetna Fashions https://chetnabagga.com/ , DCC Print Vision https://groupdcc.com/ , Jaysynth Dyestuff India http://jaysynth.com/ and True Colors amongst others. International brands like Baoyou, Brother, Datatex, Dupont, Jack, Kansai, SinSim, Siruba, Yumei and more will also add a global touch to the show.

New Product Launches:

The three-show days are lined up with more than a dozen of new product launches and the exhibitors showcasing their latest offerings. Some of the unmissable product launches will be from brands like: Amtex Dye Chem Industries, Behariji Enterprises, Codeverse Technologies, Creative Industries, LNJ Denims, Panchsheel Enterprises, Pro-Pioneer Eco Technologies, Rainbow Denim, Ranjan Fabrics, R&B DENIMS, SBT Textiles, Sitaram Spinners, Stas Biochem, Studio Next Technology, True Colors, The Tenth House, Venus Denims, Vertex Edge Tech, Vinod Denim and more .

Show Highlights:

– The first edition to be organised at the state-of-the-art expo centre – Yashobhoomi, IICC, Dwarka, New Delhi

– 200+ exhibitors presenting 600+ brands from 7 countries

– Featuring curated – zones for product categories like ‘Knitting, Sewing Machinery, Digital Printing, Embroidery, Fabrics & Trims’

– Expansion of the Trims segment with new exhibiting companies

– International brands directly participating in the show

– Curated knowledge – sessions with a panel consisting of Government officials from the concerned Ministries, industry experts and innovators from the textile associations and businesses

Exhibitors Perspective on Government Schemes:

As India shines in its glory of being the world’s 3rd largest producer of textiles raw materials like cotton, jute, silk and wool, it also embodies the strength of manpower, infrastructure, low production costs and innovations needed to push the contours of the Indian textile landscape.

In an attempt to gather the view of the participating companies on the government schemes and initiatives – many of them shared that schemes and initiatives like PLI, ATUFs, RoDTEP & RoSCTL, NTTP, NHDP, PM MITRA Parks, Handloom Weavers’ Comprehensive Welfare Scheme, Integrated Skill Development Scheme (ISDS), schemes for MSMEs and amongst others, have served to be beneficial for not only growing their businesses but also the expand the technical skillsets resulting in a healthy business atmosphere.

As the preparations for the event gear up, Raj Manek, Executive Director and Board Member of Messe Frankfurt Asia Holdings Ltd, shared on 3 Jul, “I think India is evolving as a beacon of innovations and economic resilience. With the upcoming edition of Gartex Texprocess India 2024, the momentum has been set to present the transformations in textiles right from the textile manufacturing machinery, garment, fabric and denims to trims and accessories and lots more.

“Sustainability and Innovations in textiles are at the heart of the show and I am pleased to share that the participating Indian and international companies will display an unparalleled quality of products and finesse.”

Gaurav Juneja, Director of MEX Exhibitions Pvt Ltd, elaborated, “With the recent growth recorded in the textile exports and focus on boosting the manufacturing sector in India – it will take textile under its stride creating more business and job opportunities.

“Gartex Texprocess India has been known for presenting an exceptional showcase of innovations from the textile industry, primarily in textile manufacturing machinery, garments, fabrics, denim, screen printing solutions and accessories. In the upcoming edition in August, we are excited to share that our esteemed exhibitors are ready to display their latest innovations and many of them are also launching their new products which makes it a must-attend industry event for the textile enthusiasts and professionals.”

Organised by Messe Frankfurt Trade Fair India Pvt Ltd and MEX Exhibitions Pvt Ltd, Gartex Texprocess India is a leading exhibition in the textile industry. fiinews.

Tags: Messe Frankfurt Trade Fair India Pvt Ltd and MEX Exhibitions Pvt Ltd
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