Business
SRTEPC’s “Source India 2019” racks up approx USD 250 – 300 million business orders
- Government’s ambitious target of achieving textile export is US$ 350 Billion by 2025
- Trade war will help textile export grow by 5 to 7 per cent in one-and-half years
Mumbai, August 26th , 2019: The 4th edition of “Source India 2019” organized by SRTEPC saw international textile buyers placing close to USD 250 – 300 million worth of orders for Man-Made Fibre and blended textiles from India. The major initiative and the vision of Make in India by PM Narendra Modi, has created a platform for Indian Textile industry to showcase its competitive products to augment the Indian exporters. Over 40 countries from across the globe have attended Source India 2019 Exhibition in Mumbai where prominent buyers from LAC, Africa, South Asia, EU region particularly Argentina, Colombia, Peru, Brazil, Mexico, USA, Japan, Vietnam, Thailand, South Africa, Uganda, Kenya, Nigeria, Egypt, Morocco, Turkey, Romania, Uzbekistan, Czech Republic, Australia, Denmark, Ecuador, Egypt, El Salvador, Guatemala, Honduras, Iran, Italy, Mauritius, Myanmar, Oman, Panama, Poland, Russia, Slovakia, Sri Lanka, UAE, etc., have participated.
Talking about the event, Smt. Smriti Zubin Irani, Minister of Textiles said, “it is noteworthy to mention that over the years the global trend has been changing and MMF textiles have been in demand for its versatility and adaptability. Indian MMF textiles is growing at a rapid pace and the time has come to project it as a reliable source of quality MMF textile products. Source India 2019 is an appropriate platform for Indian exhibitors and overseas buyers to meet under a single roof.”
Speaking on the occasion, Mr. P. K. Kataria, Additional Secretary, Ministry of Textiles said, “India’s per capita Man-Made Fibre consumption is 3 kg whereas in China it is 11 kg and globally it is 6 kg. This gives huge scope for India to focus on the growth of MMF in the entire textile value chain.”
Speaking on the occasion, Mr. Ronak Rughani, Chairman, SRTEPC said, “The total global imports for the products covered under the ambit of SRTEPC are at about USD 6.3 billion. Source India 2019 will help showcase India as a reliable and competitive sourcing hub for Man-Made Fibre. This portfolio should play a significant role in Government’s ambitious target of achieving textile industry size of USD 350 Billion by 2025.”
Source India 2019 event is to showcase strength to the entire gamut of textile value chain to the world and establish India as a global textile sourcing hub and investment destination. It concluded as the biggest meeting place for international textile buyers who plan to source range of Man-Made Fiber textiles like fibres, yarns, fabrics, home textiles, technical textiles, made out of Polyester, Viscose, Acrylic, Polypropylene, Nylon, etc. and their blends showcased during the event.
For more information visit – http://www.srtepc.org/Home