According to the annual survey report recently released by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the economic growth of the developing countries in the Asia-Pacific region will further slow down due to the reduction in demand from industrial countries.
The report also pointed out that despite the slowdown, the Asia Pacific region is still the fastest growing region in the world economy.
In this environment, although the overall growth of the Asian textile industry is also slowing down, Asia remains the center of the global textile industry and remains the largest market for global textile machinery.
It is worth noting that after the global financial crisis hit, the demand for textile machinery in the Asian market has changed. The demand for high-end equipment has been further enhanced, and the demand for high-efficiency, high-quality, high-automation, and energy-saving equipment is increasing.
India is the second largest textile machinery market in the world after China. With the advantages of cotton and labor resources, since 2006, India's spinning capacity has increased by 3 million to 4.2 million spindles per year. At present, India's spinning capacity is about 43 million spindles.
Indian cotton textile industry has strong competitiveness. Over the years, through cooperation with world-renowned textile machinery manufacturers, such as Trützschler in Germany, Rieter in Switzerland, Suesen in Germany, Savio in Italy, Toyota in Japan, etc., have greatly improved India. The level of manufacturing of cotton spinning machinery. The Indian cotton textile industry already has a good level of management and quality control capabilities. The demand for high-speed and high-performance cotton spinning machinery has been greatly increased compared to the past.
A few years ago, the investment in textile machinery and equipment in India was mainly concentrated on spinning equipment. The development of other equipment was relatively slow. However, in the past two years, the demand for medium and high-end weaving equipment, knitting equipment, chemical fiber equipment, and air spinning equipment has increased significantly in India's textile industry. Knitting, printing and dyeing equipment will have a relatively large space for development. At the same time, about 2 million to 3 million spindle spinning machines in India need to be updated every year.
At the request of Indian textile companies, the Indian government is preparing to extend the technical reform program (TUF) of the textile industry. It is understood that the Indian textile ministry has proposed to extend the TUF plan in the twelfth five-year plan and will allocate Rs 1,588.6 billion to implement the plan.
After the reorganization, the technical reform program will place greater emphasis on downstream industries such as weaving, processing, and high added value textile production industries.
The report also pointed out that despite the slowdown, the Asia Pacific region is still the fastest growing region in the world economy.
In this environment, although the overall growth of the Asian textile industry is also slowing down, Asia remains the center of the global textile industry and remains the largest market for global textile machinery.
It is worth noting that after the global financial crisis hit, the demand for textile machinery in the Asian market has changed. The demand for high-end equipment has been further enhanced, and the demand for high-efficiency, high-quality, high-automation, and energy-saving equipment is increasing.
India is the second largest textile machinery market in the world after China. With the advantages of cotton and labor resources, since 2006, India's spinning capacity has increased by 3 million to 4.2 million spindles per year. At present, India's spinning capacity is about 43 million spindles.
Indian cotton textile industry has strong competitiveness. Over the years, through cooperation with world-renowned textile machinery manufacturers, such as Trützschler in Germany, Rieter in Switzerland, Suesen in Germany, Savio in Italy, Toyota in Japan, etc., have greatly improved India. The level of manufacturing of cotton spinning machinery. The Indian cotton textile industry already has a good level of management and quality control capabilities. The demand for high-speed and high-performance cotton spinning machinery has been greatly increased compared to the past.
A few years ago, the investment in textile machinery and equipment in India was mainly concentrated on spinning equipment. The development of other equipment was relatively slow. However, in the past two years, the demand for medium and high-end weaving equipment, knitting equipment, chemical fiber equipment, and air spinning equipment has increased significantly in India's textile industry. Knitting, printing and dyeing equipment will have a relatively large space for development. At the same time, about 2 million to 3 million spindle spinning machines in India need to be updated every year.
At the request of Indian textile companies, the Indian government is preparing to extend the technical reform program (TUF) of the textile industry. It is understood that the Indian textile ministry has proposed to extend the TUF plan in the twelfth five-year plan and will allocate Rs 1,588.6 billion to implement the plan.
After the reorganization, the technical reform program will place greater emphasis on downstream industries such as weaving, processing, and high added value textile production industries.
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