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Textile industry looks at Latin American markets for growth
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SME Times News Bureau | 22 Mar, 2010
The Indian textile industry, yet to recover from the impact of recession is making a desperate bid to grab a share of the growing textile markets in Latin America.
Argentina and Brazil which are eyeing investments into India’s textile industry, will play host to 22 Indian companies going to participate in the Mega Textile & Clothing Exhibitions in Buenos Aires, Argentina March 25-26 and Sao Paulo, Brazil March 29-30, under the flag of Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).
Indian ambassador to Argentina, Uruguay and Paraguay, R Viswanathan, told FE, “Latin America is a focus area with huge potential for export expansion of textiles, as Indian exporters are less familiar with these markets. Among the LAC countries, Brazil and Argentina hold the highest potential for increase in exports of textiles and clothing from India.”
Though Brazil and Argentina import textiles & clothing worth Rs 17,243 crore and Rs 7,290 crore respectively, India's share in these markets is negligible at 12% & 6% respectively. Hence there is tremendous scope for increasing India’s exports of textiles to these markets and the mega shows are meant to achieve this objective, Viswanathan explained.
The event is jointly organised by SRTEPC in co-ordination with the Apparel & Cotton Textile Export Promotion Councils (AEPC & TEXPROCIL), with the active assistance of the concerned Indian Missions.
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