Indian textile machinery industry has tremendous growth potential buoyed by growing domestic and global demand. The only need is to identify untapped opportunities. The size of the domestic textile machinery industry is expected to touch Rs 35,000 crores in the next five years from the present Rs 22,000 crores.

Global textile machinery market is witnessing tremendous growth and is forecasted to grow at a CAGR of 14.02 per cent till 2018. Major manufacturers are: Germany, Italy, Japan, Switzerland, France and China. One of the major trends in the global textile machinery market is the growing number of technological innovations.

India is a major importer of textiles machinery. Demonetisation affected the entire textile chain. Textile machinery suppliers faced the immediate impact as orders were badly hit for a month. Bigger companies had a lighter impact on the topline as they were already under the organised sector and payments were effected through banks. The most affected was the unorganised sector which took some time to change to digital cash or online transactions. Demand reverted to normal within next the few months with an improvement in liquidity.

The textile sector is one of the largest contributors to India’s exports, accounting for approximately 11 per cent of total outbound shipments.