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India’s textile machinery imports up 24 per cent

India’s textile machinery and accessories imports have grown 24 per cent compared to the previous year. The highest imports were of digital printing machinery, accounting for 37 per cent of total imports. Digital printing is a happening segment in textiles. The new machines are versatile and fast and save on water, so demand is high. Weaving machines and spinning machinery and accessories were also imported. Imports of spinning products and machinery grew 41.85 per cent.

Several textile engineering multinational companies have started operations in India and they import parts and accessories. Indian textile engineering industry is operating at about 70 per cent capacity utilisation, serving 65 per cent of the textile sector’s demand. The Indian textile machinery industry has been experiencing tremendous growth over recent years, facilitated by the country’s booming textile and apparel market. India is expected to be a leading textile producing country in by 2020, and domestic textile and apparel market in India is estimated to grow at 12 per cent CAGR over 2020. The technical textile market in India is also showing a promising growth, at 18 per cent CAGR. The machinery industry is expected to reach Rs 35,000 crores by 2021.

 
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