Textile industries in China-India likely to surge ahead

Mumbai, May 6 (UNI) Two of world's largest textile industries - China and India - are expected to grow around 10 and eight per cent respectively, a report says.

Various international studies have highlighted that China and India will drive global economic growth with China contributing 30 per cent to the world's economic growth in 2007 and India contributing 10 per cent.

Growth rates would be strengthened by strong domestic demand in world's two most populous nations and higher external trade.

Though China is the largest producer of cotton in the world, it is also the largest net importer in view of the fact that its cotton production is lagging behind consumption.

Large scale production of cotton during the last three cotton seasons, India has emerged as a surplus producer of cotton. Although cotton consumption in India is on the rise, there will still be a comfortable surplus.

Considerable improvement has been achieved in quality of Indian Cotton, as a result of concerted action by all stakeholders.

In the cotton season, October 2006-September 2007, India's exports of cotton are estimated at 80,000 tonnes. Of this 65 per cent will be destined for China.

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