Citigroup upbeat on textiles, pegs export at $10bn by 2010
07 Dec '06
1 min read
Global financial services major Citigroup has predicted that India being a leading player in the world textile market, is expected to increase its exports over three times by 2010.
India is self sufficient in cotton production. With industry majors high on latest acquisitions and tie-ups at international levels, country's textile export is projected to rise to $10 billion by 2010 up from $3 billion in 2005.
US imports bed linen stood at $24 billion despite stiff competition in this category with three Asian countries China, India and Pakistan notching up 76 percent of the total market share.
The sector is also putting efforts on value addition through innovative designing, opting for strategic partnerships with global brands and going for efficient supply chain management.
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