Confederation of Indian Textile Industry (CITI) has expressed a hope that textile Industry may expect demand and price to revive in the coming weeks, thanks to the emerging positive indicators in the domestic as well as global markets. Prem Malik, Chairman, CITI said in a statement that the demand for cotton yarn in China has already started picking up. He added that there was a decline in China’s imports that had led to lower demand for Indian cotton yarn. Ensuing festival season is expected to generate accelerated demand for all textile products and this would help the industry to achieve substantial growth in the domestic market. “US economy continues to pick up and there is revival of demand also in the European Union,” he added.
