Motexha confirms Dubai's prime status, China & India top world textiles
27 Mar '06
4 min read
The Indian federal budget for the fiscal 2006-07 has allocated technology upgradation fund scheme for textile companies from Rs.4.35 billion (US$ 98 million) to Rs.5.35 billion.
Industry representatives have noted that the upgradation fund scheme will help small power looms and big textile industries to modernise and equip themselves to face global challenges.
The Indian government has set a target of earning US$ 50 billion through textile exports by 2010.
"There are three major segments that are likely to benefit in the post quota era, namely, garments, denim and home textiles," says David Wang, General Manager, China Orient.
"Chinese industries are fully poised to meet demands in these segments. Over 45 companies from Chinese mainland have confirmed their presence in Motexha 2006.
Their presence at the show has justified Motexha's position as the leading event of its kind in the region show for fashion, textiles, leather and accessories."
The number of Chinese traders represented at Motexha 2006 has grown 22 per cent from the year before. The Chinese traders are fronted at the show by delegations from China Chamber of Commerce of Textiles, Sinobal and China Orient.
Meanwhile, figures from US Office of Textile and Apparel (OTEXA), in 2005, has shown that India's textile and apparel exports increased 22 per cent in volumes and 27 per cent in value terms at US$ 46.16 billion.
The figure is significantly miniscule when compared to China, whose exports are valued at over US$ 100 billion. The country has however, fared better than Pakistan and Bangladesh in terms of growth in exports due to factors like abundance of raw materials, such as cotton, and low-cost skilled labour and designers were expected to drive further growth of the Indian textile industry.
MOTEXHA include manufacturers from all sectors of the textile machinery industry, including spinning, nonwovens, weaving, knitting, dyeing and finishing, garment making, testing, software as well as dyestuffs and chemicals.
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