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Textile machinery industry to touch Rs 35,000cr in 5 years

Press Trust of India  |  Mumbai 

The size of domestic textile machinery industry is poised to hit Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore on the back of initiatives like 'Make in India', an industry member said today.

"The textile machinery manufacturing section is one of the important segments of the industry in India," International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia told reporters here.



"With the Government's initiatives like 'Make in India' and incentives for manufacturing sector, we expect the size of India's textile machinery industry to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore," he added.

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 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 after agriculture and hence it is utmost necessary that the machine manufacturing industry strengthen its base for quality output and efficiency through innovations, he said.

Meanwhile, the society is organising the 10th edition of its exhibition, 'ITME 2016', in Mumbai from December 3 to 8. The event is expected to attract over 1,050 exhibitors from 38 nations, 13 delegations and nearly 1.50 lakh visitors.

Through the event, 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, officials from countries such as the Philippines, Myanmar, Bangladesh, Sri Lanka, Iran, Turkey, Brazil, Indonesia, Poland, Malaysia, Kenya, Ethiopia and Egypt will visit ITME 2016.

The idea of 'Make in India' in textile engineering will be promoted to the visiting foreign business visitors. The exhibition also provides an opportunity to propagate schemes and incentives for the textile industry in India, Lathia said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Textile machinery industry to touch Rs 35,000cr in 5 years

The size of domestic textile machinery industry is poised to hit Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore on the back of government initiatives like 'Make in India', an industry member said today. "The textile machinery manufacturing section is one of the important segments of the industry in India," India International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia told reporters here. "With the Government's initiatives like 'Make in India' and incentives for manufacturing sector, we expect the size of India's textile machinery industry to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore," he added. 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 ... The size of domestic textile machinery industry is poised to hit Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore on the back of initiatives like 'Make in India', an industry member said today.

"The textile machinery manufacturing section is one of the important segments of the industry in India," International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia told reporters here.

"With the Government's initiatives like 'Make in India' and incentives for manufacturing sector, we expect the size of India's textile machinery industry to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore," he added.

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 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 after agriculture and hence it is utmost necessary that the machine manufacturing industry strengthen its base for quality output and efficiency through innovations, he said.

Meanwhile, the society is organising the 10th edition of its exhibition, 'ITME 2016', in Mumbai from December 3 to 8. The event is expected to attract over 1,050 exhibitors from 38 nations, 13 delegations and nearly 1.50 lakh visitors.

Through the event, 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, officials from countries such as the Philippines, Myanmar, Bangladesh, Sri Lanka, Iran, Turkey, Brazil, Indonesia, Poland, Malaysia, Kenya, Ethiopia and Egypt will visit ITME 2016.

The idea of 'Make in India' in textile engineering will be promoted to the visiting foreign business visitors. The exhibition also provides an opportunity to propagate schemes and incentives for the textile industry in India, Lathia said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Textile machinery industry to touch Rs 35,000cr in 5 years

The size of domestic textile machinery industry is poised to hit Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore on the back of initiatives like 'Make in India', an industry member said today.

"The textile machinery manufacturing section is one of the important segments of the industry in India," International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia told reporters here.

"With the Government's initiatives like 'Make in India' and incentives for manufacturing sector, we expect the size of India's textile machinery industry to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore," he added.

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 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 after agriculture and hence it is utmost necessary that the machine manufacturing industry strengthen its base for quality output and efficiency through innovations, he said.

Meanwhile, the society is organising the 10th edition of its exhibition, 'ITME 2016', in Mumbai from December 3 to 8. The event is expected to attract over 1,050 exhibitors from 38 nations, 13 delegations and nearly 1.50 lakh visitors.

Through the event, 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, officials from countries such as the Philippines, Myanmar, Bangladesh, Sri Lanka, Iran, Turkey, Brazil, Indonesia, Poland, Malaysia, Kenya, Ethiopia and Egypt will visit ITME 2016.

The idea of 'Make in India' in textile engineering will be promoted to the visiting foreign business visitors. The exhibition also provides an opportunity to propagate schemes and incentives for the textile industry in India, Lathia said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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