India: Booming Opportunity
India as the second largest textile manufacturing country in the world is also the second largest market for textile machinery and technology. The Indian market for textile machinery grew from US$ 1.1 billion in 2012-13 to around US$ 1.5 billion in 2016-17.
Huge demand = Huge opportunity
The Indian textiles industry, currently estimated at around US$ 150 billion, is expected to reach US$ 250 billion in 2019.
To meet global & local demand, Indian textile & apparel manufacturers need to invest US $ 50 billion in new machinery towards increased demand and $ 25 billion for replacing existing machinery by 2020. Yarn manufacturing, weaving and processing machinery will attract 58% of the overall investments.
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