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China stays ahead in technical textiles
production
Amid rapidly increasing global
technical textiles market, China is
expected to stay dominant in this
sector in 2017. Europe and USA
are two top markets which China is
aiming to cater the most.
According to BizVibe (a leading B2B
marketplace), the global technical
textile industry was estimated to be
worth US $ 142 billion in 2015 and
is expected to reach US $ 165 billion
by 2019. China contributes 30 per
cent to the global technical textile
production and its leading position
is followed by America with 19 per
cent of global production, India
with 18 per cent, the EU with 16 per
cent, and the rest of the world with
17 per cent.
BizVibe also shares that a large
workforce, strong domestic market,
and the advancements in the
textiles technology make China a
very strong competitor in the global
technical textiles industry. Despite
setbacks in terms of reduced textile
exports in last few years, these
qualities have allowed China to
continue to thrive in this sector.
“China has a clear edge over
its competitors like India. For
example, Vardhman Group,
one of the largest spinning
companies in India, has a capacity
of 5,00,000 spindles, while
Weiqiao Textile, one of China’s
largest spinning companies, has
a capacity of 30,00,000 spindles.
On an average, textile companies
in China are five times larger
than those in India, meaning
that they have an easier time
meeting the increasing global
demand for technical textiles,”
reports BizVibe.
India likely to note 15-18% growth in garment
exports in 2018
India is likely to note a 15-18
per cent growth in garment
export to touch US $ 20 billion
during the current fiscal.
The increase from US $ 17 billion
in FY’17 is expected mostly
owing to the improved market
conditions in the US and other
markets.
“We have clocked 15 per cent
growth in garment exports at
US $ 17 billion in FY’17. We
expect 15-18 per cent rise in the
current fiscal to register exports
of US $ 20 billion,” stated Clothing
Manufacturers Association of India
(CMAI) President, Rahul Mehta.
India failed to grab the desired
export target for the year
2016-17 due to world recession
and heavy competition from China,
“We are a strong player in
spring and summer wear,
but we need to increase
exports of autumn and
winter wear…”
– Rahul Mehta, President, Clothing
Manufacturers Association of India
(CMAI)
38 Apparel Online Bangladesh | AUGUST 2017 | www.apparelresources.com
Bangladesh and Vietnam. “The
US market, which consists of
30 per cent market share, is
doing reasonably well and we
are also looking at good exports
potential to South America,
European, Middle East and
Japanese markets this year,”
Rahul added. “We are a strong
player in spring and summer
wear, but we need to increase
exports of autumn and winter
wear, which we hope to do in
coming years,” he said.
According to Rahul,
demonetization announced last
year had not hit the industry
and GST (Goods and Services
Tax) rates implementation
is unlikely to impact the
industry adversely.