India a Top Priority for the Chinese Textile Machinery Industry
Published By : 05 May 2014 | Published By : QYRESEARCH
India is a top priority for Chinese manufacturers of textile machinery. According to an official from the China Textile Machinery Association (CTMA), India remains a priority market owing to its burgeoning textile sector. The official, interacting with media on the sidelines of a road show that was conducted to promote an industry convention ITMA Asia + CITME 2014 that focuses primarily on textile machinery.
Organizers of the show slated to be conducted in Shanghai between June 16 and 20, 2014, had conducted a road show in the Indian city of Ahmedabad as part of the show’s promotional campaign. Nearly 60 delegates attended the show.
The official, Cong Zheng told Indian media that China currently stands as the largest market in the global industry for textile machinery. This sector recorded a whopping USD 18.1 billion revenue in 2012. The sector also delivered growth figures of 5% in 2012. Besides India, road shows have also been conducted in a number of countries such as Indonesia, Turkey, Vietnam, and Pakistan among others. The officials however added that they consider India to be a top priority for promoting the show in China.
Speaking about possible mergers and acquisitions in the sector in the coming years, director of Falcon Exhibitions Sooraj Dhawan said that a Chinese delegation had visited India in December 2012 to study the technology implemented by textile mills in India. Having left impressed after the trip, it is likely that a few JVs may be in the pipeline.
Meanwhile, the organizers of ITMA Asia + CITME 2014 said that they expect over 100,000 visitors to attend the show that will be held later this year.