Weaving sector of India is expected to improve in coming months. Main reason being seen for the growth are positive signs from China, one of the leading importers of yarn for India. Indian industry is already strong in knitting segment, and off late more investments are happening in the segment which is a thrust area for the Indian textile industry.
T Rajkumar, Deputy Chairman, Confederation of Indian Textile Industry (CITI) and Past Chairman of The Southern India Mills’ Association (SIMA) told Apparel Resources, “I think that yarn (weaving) export to China will pick up again in the coming months and the demand will improve so I personally feel that weaving segment should improve in next few months.” He further added that knitting sector is already doing well and yarn was selling on demand. Not only the exports orders were good, but even local market was performing well.
It is worth mentioning here that according to data of Directorate General of Commercial Intelligence and Statistics (DGCI&S) compared to October 2017, during October 2018, cotton yarn, fabrics, made-ups witnessed growth of 25 per cent, while MMF, textile and apparel segment have much higher growth of 31, 28 and 54 per cent respectively. All commodities witnessed growth of 33 per cent during the same period.