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India’s textile machinery set for bigger growth

The Indian textile machinery industry grew 10 per cent from 2013 to 2014. It’s expected to reach Rs 35,000 crores by 2021. The textile machinery sector plays an increasingly vital part in shifting India’s textile and apparel industry from labor-intensive production to a more advanced and industrialized sector. Spinning machinery segment is expected to see the fastest growth over the next five years. Much of this segment’s growth can be attributed to expansion of spinning machinery. High demand for cotton exports and expansion of spinning machinery capacities will help India maintain high demand for spinning machinery over the next few years.

The Indian textile machinery industry has been experiencing tremendous growth over recent years, facilitated by the country’s booming textile and apparel market. India is expected to be a leading textile producing country in the world by 2020 and the domestic textile and apparel market in India is estimated to grow at 12 per cent CAGR over 2020. The technical textile market in India is also showing a promising growth, at 18 per cent CAGR. All this is believed to further boost demand for and output of textile machinery in India.