India Textile And Garment Exports Will Reach US $80 Billion In 2020, Far Exceeding The 2010 Export Volume.

India consulting firm Technopak said recently that although India

The industry is in a difficult position, but the future of the industry is bright.

By 2020, India's textile and garment exports are expected to reach US $80 billion, much higher than the US $24 billion 100 million export volume in 2010.

The consultancy expects that global textile will be launched by 2020.

It will reach $1 trillion, compared with $510 billion in 2009.

Technopak said growth expectations in developed countries slowed down, and growth in emerging economies including Brazil, Russia, India and China increased.

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

Technopak also emphasized the raw material problems in India and Pakistan.

The company says India has a wealth of raw materials.

Almost all man-made fibers and natural yarns and fabrics have supply bases in India.

As the fourth largest in the world

Pakistan also has an excellent raw material base for producing countries.

Technopak expects Pakistan to remain strong in sheet and denim fabrics.

Studies have found that countries such as Bangladesh, Vietnam, Indonesia and Kampuchea are working hard to build textile centers in China.

These countries form a competitive relationship with the major garment exporting countries, but because of their product centered and lack of a complete supply chain, their development will be limited.

The report finds that

The trend of flat development is due to the following four factors: GDP growth, substitution employment opportunities increase, minimum wage rise, almost no economies of scale, and lack of vertical integration.

In order to enhance the competitiveness of the industry, the government of India has launched a series of industry support measures.

In West Bengal, India, the local government is implementing a plan to develop handicrafts and handloom machinery departments.

West Bengal has 550 thousand handicraft craftsmen and 665 thousand handloom looms.

In order to further promote the healthy and orderly development of handicrafts and hand textile machinery sectors, small and micro enterprises and textile bureaus provide financial support for workers to loan of craftsmen and looms, and establish health care mechanisms and insurance for them.

Technopak analysis points out that despite the challenges, the outlook for the textile and garment industry is very optimistic.

He called on the government and industry to give support in four ways: improving the processing technology; increasing the production of synthetic fiber garments; increasing production efficiency; turning from traditional manufacturing centers, such as Delhi, Bangalore and Chennai, to low-cost centers.

Analysis shows that India has traditionally focused on women's wear and knitted apparel, and now has the opportunity to turn to other categories, such as coats, formal wear and underwear.