Textile Machinery Imports and Industry Development – An Exploratory Analysis

The global trade in textiles and clothing has been steadily increasing over the years and has witnessed a CAGR of 4.35 percent during last 10 years i.e., between 2005 and 2014. The major Textiles & Clothing (T&C) importing countries in the world are European Union (EU) and USA; and together they contribute an import demand of over 36 percent. The share of EU imports of T&C in the world is around 18.55 percent while USA commands an import share of 17.53 percent. European Union is one of the largest textiles and clothing markets of the world.

The growth in the demand for textiles and clothing items in these two major destinations and also elsewhere prompted the textile and clothing majors to invest more in the industry and expand the production base so as to maintain/expand the share in the total textiles and clothing demand pie of the world. The global textiles and clothing manufacturing giants like China, United States, EU nations, India etc are increasingly investing in the textile sector.