Textile machinery industry in India has grown tremendously in the last year, achieving a growth of 130% viz. Rs.11700 crore in 2021-22 as against Rs.5,095 crore achieved during 2020-21.
Most encouragingly, the export of textile machinery rose during the year as compared to preceding year with the export of Indian TEI standing at Rs. 4291 crore in 2021-22 from Rs. 2721 crore in 2020-21. The US$2.5 bn textile machine industry in India reflects on the growing strength of this sub-segment in the textiles value chain in India. A strong textile engineering industry that can grow, compete, and export would be able to provide support to the rising Indian textile industry, adding vibrancy and competitiveness. There are about 3,250 companies involved in the manufacturing of textile machineries, accessories, and trading of equipment in India. The industry not only caters to rising domestic demand but also has the potential to establish India as an export hub for textile machinery with spinning machines representing the largest export opportunity. Much of this segment’s growth can be attributed to the expansion of the country’s spinning machinery. High demand for cotton exports and the expansion of spinning machinery capacities will help India to maintain an increasingly high demand for spinning machinery over the next few years. However, the import of the Indian TEI stood at Rs. 12635 crore in 2021-22 as compared to Rs. 6778 crore in 2020-21. What is needed is more absorption of foreign technologies and combined with the use of domestic know how to enrich the technology arena in India, so that not only production inside the country but also the export front can be strengthened in the future. TEI has also the potential of becoming a major hub for textile machinery parts covering all the important segments in this section.This will complement the production of textiles and apparels, which have already made good progress on the Indian soil.
