Size of Indian textiles to touch US $ 110 billion by 2012

Mr Nikhil Meswani, Board Member, Reliance Industries Ltd, said that India’s textile industry would grow to US 110 billion by 2012 from the present level of US $52 billion riding on the back of abundant fibre supply, favorable demography, strong manpower base and emphasis on innovation. This, he said, envisaged an investment upwards of US$ 50 billion.

While addressing the Second Asian Textile Conference(ATEXCON 2007) organized by the Confederation of Indian Textile Industry (CITI), in the capital, Mr. Meswani said that sufficient supply of paraxylene and PTA backed by refining capacity could double or triple man made fibre production.

Equally significant is the focus laid on retail sector, which would grow phenomenally in the next few years triggered by demand for apparel and life style products. In the years to come Indian textile industry, in order to increase consumer focus, will look at acquiring more retail supply chains in the developed markets.