The textile industry in China and India are exploring opportunities for joint ventures in the areas of non-woven and technical textile and other value added items in both countries.
A 12-member Chinese delegation, headed by Wang Tiankai, President, China National Textile and Apparel Council (CNTAC), were in the city as part of the last leg of their four-day visit to India, to explore opportunities for better cooperation and understanding in the textile sector.
After visiting some facilities in and around the city, Tiankai told reporters last night that there was huge potential for exporting grey fabrics and made-ups to his nation.
He also said there was a need to have broad discussions to encourage Chinese firms to invest in the Indian market.
The delegation, which has already visited Delhi, Vadodara and Mumbai, wanted to know the local situation and learnt that India was giving priority to textile machinery upgradation and that it was good time to discuss and explore opportunities, he said.
Tianki also said China would continue to import cotton yarn from India and had already shipped in 4.5 lakh tonnes of cotton yarn till September, which showed an increase of 100%.
To a question on the expected release of surplus cotton of nearly 10 million tonnes and its impact on global market, he said there would definitely be a price gap and Chinese buyers would continue to buy it from India.
T Rajkumar, Chairman, Southern India Mills' Association, said about 40% of India's cotton yarn exports were to China and there was tremendous opportunity to increase the same in the coming months.