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Economic slowdown, low investments affect India’s textile machinery exports

"Impacted by an economic slowdown and poor capital investments, Indian textile machinery exports declined 11.50 per cent to $743.32 million in 2019. Of all machines, spinning, twisting and yarn preparation machines were the largest exported products, though their exports declined by 29.86 per cent to $214.9 million in 2019 over the previous year. Bangladesh remained the top export market for most of India’s textile machinery goods."

Economic slowdown low investments affect Indias textile machineryImpacted by an economic slowdown and poor capital investments, Indian textile machinery exports declined 11.50 per cent to $743.32 million in 2019. Of all machines, spinning, twisting and yarn preparation machines were the largest exported products, though their exports declined by 29.86 per cent to $214.9 million in 2019 over the previous year. Bangladesh remained the top export market for most of India’s textile machinery goods.

Commodity-wise textile machinery exports from India

Exports of spinning, twisting and yarn preparation machines declined 29.86 per cent in 2019. Bangladesh was the top market for Indian machines, with total exports declining by .35.31 per cent over previous year.

Under this segment, cotton spinning ring frame was the most exported item. However, the exports for this commodity declined by 31.96 per cent to US$ 118.67 million over the previous year. The second top exported item were cotton processing machinery whose exports grew 90.22 per cent to $90.22 million. Exports of cotton spinning roving frames registered a negative growth of 39.95 per cent while those of cotton combing machines too declined by 33.36 per cent. Export of blowroom machines declined by 47.47 per cent. Under this segment, parts and accessories used for extruding, drawing and texturing of auxiliary machinery was the topmost commodity worth $48.58 million in 2019. Netherland continued to be top market, with a value of $18.68 million.

Knitting machinery grows, processing machines decline

In 2019, export of knitting machines grew 31.87 per cent to $2.87 million while sewing machines grew 0.94 perEconomic slowdown low investments affect Indias textile machinery exports cent to $58.68 million. Germany was the top market with exports growing 9.93 per cent during the year.

Export of processing machines registered a negative growth of 27.38 per cent, while that of printing machinery grew 19.66 per cent. Bangladesh was the top market for this commodity with exports growing 19.95 per cent. A part of printing machinery used for ancillary printing was the topmost commodity exported from India in 2019. Its exports totaled to $19.25 million during the year with a minor decline of 0.54 per cent over previous year. Export of weaving machines (looms) exports declined 7.14 per cent to $34.75 million with Vietnam being the topmost market.

Bangladesh leads Indian export growth

Though Bangladesh remained the top export market for India’s textile machinery products, in 2019, exports to the country declined 26.81 per cent to $82.99. Spinning, twisting and yarn preparation machines were the most exported commodity with exports declining 35.31 per cent to $35.99 million. Export of printing machinery also declined 20 per cent to $17.35 million during the year.

Germany retained its position as the second biggest export market for India’s textile machinery products with $63.39 million and an adverse growth of 2.40 percent.

Amongst the top seven export markets for India, Italy was the only country that witnessed positive growth in 2019. Exports to the country grew 19.35 per cent to $26.79 million. On the other hand, exports to Turkey declined 52.74 per cent to $25.98 million in 2019 over previous year. Spinning, twisting and yarn preparation machine was exported the most in 2018, but registered a fall of 52.95 per cent in 2019 to $14.83 million over previous year.

 
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