The most significant advantage of India is that it has the largest area of cotton cultivation in the world. The textile industry occupies a pivotal position in India’s industrial economy. The textile industry has a total output value of US$55 billion, accounting for 4% of the GDP, 14% of the total industrial value, 17% of the total exports, and 20% of the working population.
India is the world’s second largest producer of cellulose fiber, the second largest producer of cotton yarn, the second largest producer of silk, and the largest producer of jute. India currently has a spinning production capacity of 37.5 million spindles and 1.93 million looms. Currently, both spinning and weaving in India are undergoing expansion and technological transformation. With the rapid growth of knitted garments, knitting production capacity is also expanding on a large scale.
The Indian textile industry has formulated development goals for 2012 and 2020. In the future, India is eager to establish an emerging textile trade model with China to achieve complementary resources and mutual benefits between the two countries.
Due to insufficient domestic cotton supply, China needs to import a large amount of cotton. Affected by the reduction in U.S. cotton production in the future, China will transfer its demand for raw cotton to other supplying countries. As China’s second largest supplier of raw cotton, India accounts for 27-28% of China’s total imports. Excellent varieties like Shamkar-6 have huge potential in the Chinese market.
China and India have many similarities in the textile industry. They hope to expand bilateral textile trade cooperation in the future, promote intra-regional trade, promote joint ventures and cooperation between enterprises between the two countries, and exchange trade information between the textile and clothing industries. Pay attention to the construction of brand and retail network.
