The textile machinery manufacturing section is one of the important segments of the industry in India. With the government initiatives like 'Make in India' and incentives for manufacturing sector, the domestic textile machinery industry is likely to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore, according to India International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia.
The textile sector is one of the largest contributors to India's exports, accounting for approximately 11 per cent of the total outbound shipments. India's overall textile exports during FY16 stood at USD 40 billion and is expected to reach USD 223 billion by 2021, the chairman said.
The textile industry is the second largest employer in India after agriculture and hence it is utmost necessary that the machine manufacturing industry strengthen its base for quality output and efficiency through innovations, he added.
Through the event, India ITME Society provides a global platform for exhibitors to showcase their products and disseminate information on innovative technologies.
Foreign and domestic businessmen, academicians, research scholars, government officials from countries such as the Philippines, Myanmar, Bangladesh, Sri Lanka, Iran, Turkey, Brazil, Indonesia, Poland, Malaysia, Kenya, Ethiopia and Egypt will visit India ITME 2016 to take place from December 3 to 8 in Mumbai.
The ITME exhibition will provide an opportunity to propagate government schemes and incentives for the textile industry in India, Lathia said. The idea of 'Make in India' in textile engineering will be promoted to the visiting foreign business visitors.
A weekly report covering market and price information on the entire chain of polyester along with online access to daily polyester chain prices.
One-time reports that are issued annually cover the demand and supply trends in individual products including polyester, nylon, acrylic, viscose, and cotton.
One-time reports that are issued annually cover the demand and supply trends in the individual country's natural and manmade fiber/filament industries.
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