Polyester's share of Indian textile industry set to rise as new applications gain foothold

摘要

The significance of the textiles industry in the global & Indian economy, as well as to international trade, is considerable. While global trade in textiles is a whopping $770-bn, and has shown a long-term CAGR of about 6%, barring a few exceptional years, Indian exports are currently valued at about US$40-bn, putting India in second place in the global rankings of exporting countries with a 7% market share. While this may appear large, it pales in comparison to the $274-bn in exports from China. Nevertheless, the Indian textile industry is important to the Indian economy - in terms of its share of manufacturing, value-addition, its ability to create jobs by virtue of being labour-intensive, and its impact on other industries, notably chemicals.