News Tags

Related Keywords: annual handloom expo and awards event, finally turned around, Government initiatives, Lankan handloom makers, make low cost dyes for handloom sector, Minister of Industry and Commerce, Ran Salu, reaping good profits, seventy percent of handloom makers are women, Sri Lankan handloom sector, use high quality colorful yarns

Sri Lankan’s handloom sector has finally turned around with several government initiatives to revive the sector. Today many Lankan handloom makers are reaping good profits, said the Minister of Industry and Commerce Rishad Bathiudeen addressing the inauguration of the annual handloom expo and awards event "Ran Salu" on 15th December.

Related Keywords: domestic textile machinery industry, Government initiatives, grow in next five years, incentives for manufacturing sector, India International Textile Machinery Exhibitions Society, innovative technologies, ITME, Make in India, textile engineering, Textile machinery manufacturing section

The textile machinery manufacturing section is one of the important segments of the industry in India. With the government initiatives like 'Make in India' and incentives for manufacturing sector, the domestic textile machinery industry is likely to touch Rs 32,000-35,000 crore in the next five years from the present Rs 22,000 crore, according to India International Textile Machinery Exhibitions Society Chairman Sanjiv Lathia.

Related Keywords: CITI, Confederation of IndianTextile Industry, domestic textile market may grow, Government initiatives, India second fully integrated textile value chain, next only to China, onset of good monsoon, strengthen textile value chain, textile industry is poised to turn Make in India into a reality, towards verticalization of the industry

The onset of good monsoon and Government initiatives, the domestic textile market may grow by 7-8 percent, which was estimated at USD 60 billion in FY17, said Confederation of IndianTextile Industry (CITI) Chairman Naishadh Parikh.

While, the textiles exports, estimated at USD 40 billion, is likely to expand by 5-8 percent this fiscal.