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Textile, Apparel and Footwear News

Textile industry has come a long way to be an organized industry from being a mere domestic industry. According to statistics, the global textile market is worth of more than $400 billions at present. Japan, India, Hong Kong and China have become leading producers of textile because of the availability of cheap labour which is a very important factor for textile industry. India textile industry is one of the leading in the world. Currently it is estimated to be around US$ 52 billion and is also projected to be around US$ 115 billion by the year 2012. The current domestic market of textile in India is expected to be increased to US$ 60 billion by 2012 from the current US$ 34.6 billion. It is predicted that Global textile production will grow up to 50% by 2014. The world textile and apparel industry has gone into a phase of transformation since the elimination of quota in the year 2005. Many new competitors as well as consumers have entered the global market with their immense capabilities and the desire to grow. Textile industry provides ample scope for business opportunities by way of textile news, news from textile industry, textile public news notice, textile bids, international textile news and global textile news.