'India poised to achieve double-digit textile export growth by 2012'

摘要

Mr. A.K. Singh, Secretary, Ministry of Textiles, has said that India accounts for 20 per cent of the world spindleage as compared to China's 31 per cent. Addressing a CII seminar on the textile machinery sector in Delhi, Mr. Singh said the global textile trade is expected to grow to $653 billion by 2008. India's share in it will grow considerably from the current level of 3.8 per cent. The overall size of the Indian industry is projected to grow from the current level of $50 million to $115 million by 2012. The Indian industry has currently 40 million spindles, and another 35 million spindles would have to be added in the next five years. To meet the textile industry expansion, a huge investment of Rs. 1,50,000 crores would be required, he added.