INTRODUCTIONThe textile industry in India is substantial, and largely diversified.The Indian textile industry roots thousands of years back. After, theEuropean industry insurrection, Indian textile sector also witnessedconsiderable development in industrial aspects. Textile industry plays animportant role in the terms of revenue generation in Indian economy.
BRIGHT FUTURE FOR INDIAN TEXTILE INDUSTRY•The significance of the textile industry is also due to its contribution inthe industrial production, employment. Currently, it is the second largestemployment provider after agriculture and provides employment tomore than 30mn people.
PROSPECTConsidering the continual capital investments in the textileindustry, the Govt. of India may extend the Technology UpgradationFund Scheme (TUFS) by the end of the 11th Five Year Plan (till 2011-2012), in order to support the industry. Indian textile industry ismassively investing to meet the targeted. output of $85bn by the endof 2010, aiming exports of $50bn.There is huge development foreseen in Indian textile exports fromthe $17bn attained in 2005-06 to $50bn by 2009-10. The estimation forthe exports in the current financial year is about $19bn. There issubstantial potential in Indian exports of technical textiles and home-textiles, as most European companies want to set up facilities near-bythe emerging markets, such as China and India
EXPORT POLICYIf textile and apparel exporters seem worse hit bythe dollar’s depreciation, it’s for good reason. Morethan 80 per cent of India’s textile exports aredollar-denominated.A stronger rupee has made exports moreexpensive and, hence, less competitive againstother lowcost competitors. With receding bottomlines and dwindling orders from key markets in theUS and Europe, textile and clothing units acrossthe country have no choice but to cut backproduction— some small and medium enterprisesare even downing shutters. Already there areearly warning signs that the industry is in fortough times. In April 2007 (latest month forwhich figures are available), textile exports fellmore than 18 per cent. In previous years, exportswere growing at between 15 to 20 per cent.
GLOBAL DEMANDThe global demand for apparel and woven textiles is likely togrow by 25 percent by year 2010 to over 35mn tons, and Asiawill be responsible for 85 percent output of this growth. Thewoven products output will also rise in Central and SouthernAmerican countries, however, at a reasonable speed. On theother hand, in major developed countries, the output of wovenproducts will remain stable.
FORECASTING It is been forecasted that the woven textile and apparel markets will sustain their growth from current till 2010. The imports of apparel and textiles will rise from developed economies like the USA and the western countries of Europe and Japan, along with some newly emerged economies, such as South Korea and Taiwan. Certainly, import growth has been witnessed vertical rise in the previous year.Siyaram’s J.Hampstead suits
APPLICATIONS USED Special kind of woven fabrics are utilized in medical as well as industrial applications. The medical applications include adhesives, dressing bandages, plasters etc. Where as, industrial applications includes; o Geotextile - interior upholstery, trim, airbags and seat belts and lyre fabrics. o Sailcloth - tent and fabrics used architectures, transportation and tarpaulins. And many more applications... The Indian Industry foresees huge demand for industrial woven products for medical and automotive applications. Demand for woven fabrics is anticipated to be rise vertically in the sector of home textiles. Non woven sector has great future in terms of global demand, thus major facilities of cotton yarn are currently concentrating just on home textiles. It is mandatory, that the peak management of the cotton yarn manufacturers analyze the future prospect and growing graph of demand for non woven products.
EFFECTIVEADVERTISEMENTS Indian textile industries always have effective advertising strategies which influence the mind of customers easily.
CONCLUSIONAnticipating massive growth in medical and automobilesectors, these sectors assures substantial demand for non wovenfacilities in India. Albeit, home textiles also will lure higherdemand, there are specific demands for home textile facilities also.The 7th Five Year Plan has huge consideration on agriculturalgrowth that also includes cotton textile industry, resulting aprosperous future forecast for the textile industry in India. Indiancotton yarn manufacturers should rush forward for joint venturesand integrated plans for establishing processing and weavingfacilities in home textiles and technical textiles in order to meetexport target of $50bn, and a total textile production of $85bn by2009-2010.