ITME’16, A Major Event For Textile Industry
The 10th edition of India International Textile Machinery Exhibition (ITME) 2016, the largest textile machinery and accessory fair will be held at Bombay Exhibition Centre, Mumbai, from December three. Spread over 1,50,000 sq. mtrs, with expected participation from 93 countries and strength of about 1000 exhibitors from across the globe, ITME 2016 is the focal event for the textile and textile engineering industry in India and in the neighboring region.
Global Textile machinery market is witnessing tremendous growth buoyed by growing demand of textile and apparel market. The major manufacturers of textile machinery are Germany, Italy, Switzerland, France and now China. One of the major trends in the Global Textile Machinery market is the growing number of technological innovations.
In India, industry witnessed a growth of 8-10 per cent to Rs.22,000 crore in 2014 from Rs 20,000 crore in 2013. The size of India’s textile machinery industry is poised to double to Rs 45,000 crore in the next 7 years from the present Rs.22,000 crore in light of new projects and emphasis on setting up textile parks.
India’s textile and apparel industry (domestic + exports) is expected to grow from the current 107 Bn. US dollar to 223 Bn. US dollar by 2021. India is expected to be a leading textile producing country in the world by 2020. The strength of the Indian textile industry is very apparent from the robust attendance by the Indian delegation in all international textile machinery shows. However, the domestic textile engineering industry is unable to fulfill the industry demand and a large volume of textile machinery is sourced from European countries, which is relatively costly. For textile machinery manufacturers from Switzerland, Germany, Belgium, Italy and Spain, India remains the most important market with the export worth millions of dollars.