Ms. Arti Bhagat, Director, Worldex India Exhibition & Promotion Pvt. Ltd. said â€œThe organized textile sector has welcomed the decision of demonetization as it would streamline the transaction system which will result in transparent business transaction with overseas traders. The demonetization will affect Indian textile industry in India in terms of purchase of new yarns and fabric from cash payment and is also expected to reduce textile related export orders for a short duration. High end fashion retail and luxury demand will also fall as discretionary demand in this segment will be curtailed. Taking the above into consideration, business relationship between Taiwan and India is not expected to see contrary effects in the medium to long term.â€
Indian apparel and textile manufacturing has reached new heights in the last few years and Indian exports are welcomed all over the world for their quality and value added features. To fuel this growth as well as to give Indian manufacturers and exporters an edge, the successful Taiwan Textile Fairs in South Asia â€“ Buyer Seller Meet commenced in Mumbai where 12 renowned Taiwanese textile companies showcased a range of innovative, trendy and high performance textile products with an aim to establish long-term business associations and tie-ups in the field of textiles.
Organised by the Taiwan Textile Federation (TTF) and the Bureau of Foreign Trade and represented by Worldex India Exhibition & Promotion Pvt. Ltd., Taiwan Textile Fairs showcased Taiwanâ€™s innovative and value-added yarns, fabrics, trimmings and clothing accessories were displayed to apparel exporters, fashion brands and labels, retailers, importers, distributors based in Mumbai.
â€œIndia is a very dynamic market with a lot of potential and scope for Taiwanese companies. Our focus is to tap new business opportunities in India, Bangladesh, and Sri Lanka where there is huge demand for innovative knit and woven textile products (performance & functional) like synthetic, fancy, functional, recycled, and eco-friendly, as well as garment accessoriesâ€, said Mr. Sean Tsai, Overseas Market Development, Taiwan Textile Federation. â€œFor over 10 years, the Taiwan Textile Federation (TTF) have been organising this buyer-seller meet in India and have been quite successful in connecting and supplying our innovative and trendy textiles to the leading fashion garment exportersâ€™ as well domestic brands in India. We aim to export around $500 million worth of functional textiles in the next five years to India. Currently, the bilateral trade between India and Taiwan has grown from $1.19 billion in 2001 to $6 billion in 2014â€ he further added.
Taiwan textiles are world renowned for their innovative and high quality textile products and are sourced by leading global brands for sports and active wear, outdoor wear, functional wear, formal wear, suiting and shirting by leading global brands such as such as DKNY, S. Oliver, C&A, Victoriaâ€™s Secret, GAP, Nike, Adidas, Calvin Klein, H&M, Marks &Spencer, TESCOUK, Tommy Hilfiger etc.
The textile produced by Taiwanese companies adds value to the brand image with such unique properties like coolmax, heat transfer, water resistant, breathable, fire-proof, etc with its advanced R&D and nano technology.
Some of the leading exporters and brands in India that are already sourcing from Taiwan include Shahi Exports, Gokaldas Images, Madura Garments, Wildcraft, Moxi Sports, and Proline India.
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