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textiles in India is growing at a very fast pace, no doubt. There are
huge investments happening in this. A number of existing companies are
diversifying into home textiles, new ventures are also coming up. While
the export market in home textiles is booming for India, the domestic
market is also picking up very fast. No doubt, companies in this segment
are doing good business. And the boom will continue for quite some time.
However, that is not to say that this is the growth engine for the textile
industry. India is weak in processed fabrics, and if investments take
place in this segment, it can also drive growth of the industry. There
is a growing demand for processed fabrics, a large part of which is being
met through imports, which are not necessarily low priced. Companies that
offer innovative product mix, good dyeing and printing, are doing very
good business in the country. Such fabrics are required in the country,
and what is encouraging is that investments in processing, printing, dyeing
facilities is beginning to happen. Demand for quality coated fabrics is
going up, as also for a number of other performance fabrics. All of this
is currently being imported. So, while home textiles is today one of the
fastest growing sectors of the textile industry, processed fabrics is
also an area that needs attention.
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textiles will continue to remain an important growth area for the industry.
Good amount of orders are coming in, almost every important manufacturer
and exporter is expanding capacities. Qualities are improving, but yes
the pressure on prices remains. The industry is expecting that the trade
restrictions on China's home textile exports to the US could lead to more
orders coming to India. While this segment has immense growth potential,
infrastructure continues to remain a problem, leading to higher costs.
There is a lot of uncertainty about the export incentive schemes. Schemes
such as these are very helpful to the exporters, and the government needs
to take a quick decision on this. Also, while China's exports may be restricted,
this would be only temporarily, and the industry cannot bank on this to
grow further. Countries like Turkey, and other East European countries
are becoming important sourcing hubs for Europe and US. Indian exporters
have to work towards better marketing of their products. While some in
the industry have begun doing this by putting up warehouses in their main
export markets, or setting up distribution centres, this is restricted
only to some of the big exporters. Marketing efforts in this segment are
still quite weak.
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