INDIA: Indian Textile Market is expected to double by 2012.
The current domestic market of textile in India is expected to increase to $60 billion by 2012 from the current $34.6 billion.
Egytex News Desk
Source: www.ibtimes.com
"India has all the potential to beat China through the textile industry," said Digvijay Singh, General Secretary of the All India Congress Committee at a conference organized by the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC), in Mumbai.
Indian textile industry is one of the most important sectors of the country's economy contributing 4 percent of GDP, 14 percent of industrial production, 17 percent of export earnings.
Currently, the industry is estimated to be around $52 billion and is also projected to be around $115 billion by the year 2012.
The textile export of the country was around $19.14 billion in 2006-07, which saw a considerable rise to reach $22.13 in 2007-08.
The share of exports is also expected to increase from 4% to 7% within 2012.
Source: www.ibtimes.com
From the Egytex news archive, first published on 7 October 2010. Figures and names are as reported at the time.
