Govt. initiatives propel Indian textile industry in home textile

YarnsandFibers News Bureau 2016-12-08 16:30:00 – Mumbai

Indian Texpreneurs Federation (ITF), a textile industry body in the region has estimated the size of global home textile market to be of 96 Billion USD. It has chance to likely follow an upward trend as the global technical textile market is expected to reach US$ 193 billion in revenues in 2020.

In fact, India can outperform China in the coming years with a support measure extended by the Centre . It is a special package to Made-ups sector.

ITF Secretary, Prabhu Dhamodharan said that the measure, on the back of the special package for apparel sector, will help to increase the market share of home textile market globally.

For the past few years, Made-Ups exports was in uptrend on year on year basis particularly India's share in USA market increasing steadily with the current share of 17 per cent..

He added that with the enhanced duty drawback rates to cover State levies along with increase in capital subsidy and reforms in labor laws, the industry can expect a solid growth in investments in this sector.

Stating that the growth of made ups sector was directly linked with the Indian SME weaving sector, he said that many weaving clusters can grow and upgrade to next level of technology parallelly.

Prabhu was extremely happy to witness continuous focus and support by the government to various segments of textile manufacturing sector and believes that industry is confident of creating further huge employment opportunities to many rural youths particularly women and textile sector will be the ideal example for success of ’"Make In India.’

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