Published on April 5, 2014

A recent research report said that in India the textile chemical market is likely to grow at the CAGR of approx 12% in terms of industry revenue. Major producers of textile chemicals are focusing on product innovation by preparation of eco friendly as well as high end products. Indian government is also taking initiatives to encourage new players to invest in this industry by offering them knowledge about technical textile. Industry sources said that major factor supporting to growth of the textile chemical industry is the rapidly growing apparel and textile industry

Surat textile trade is likely to increase due to its air connectivity to Kolkata, as Kolkata is one of the biggest markets for Surat textile. This will benefit the textile market of Surat. Industry experts said that Indian textile players are focusing on growing share of India in Bangladesh to offset the impact created by China in last few years. They added that appropriate and concentrated focus on Bangladesh market can work wonders for this industry, because of its existence amongst top ten trading communities in India.

Maharashtra government announced new textile policy before one and half years ago, the policy has attracted around 1,331 projects amounting to invest Rs.120 billion, said by Maharashtra textile Minister Mohammad Arif. Policy include 10% capital subsidy for projects coming up in growing regions like Marathawada, Vidarbha and North Maharashtra. It also provides 7% interest subsidy for all upcoming projects in the state that includes ginneries, spinning mills, processing and pressing units.

Recent news said that Chinese and Indian market players believed that Chinese companies should consider investing in India because it offers several advantages for investors. For the current week industry is moving steady without any major fluctuation as per industry sources.