World's leading textile companies to attend upcoming BharatTex show

Several prominent international textile companies, including Fortum, Lenzing, H&M, Busana Group, and Hyosung Corp, are expected to attend the upcoming global textile event BharatTex, to be hosted in New Delhi from February 26th to 29th, 2024. This signifies India's escalating role in the global textile sector, highlighting a favourable outlook for increased investments in the country's textile industry. The government's endeavours to amplify India's presence in the technical textiles market, which is experiencing rapid expansion, are pivotal in this progression.

Besides industry participation, ministerial and business delegations from key textiles hubs like Australia, Italy, Turkey, South Korea, Bangladesh, Russia, Peru, Egypt, and Thailand are also expected to grace the event.

India currently exports technical textiles, including medical apparels, totalling $2.5 billion, with plans to elevate exports to $10 billion within the next five years. Holding a 4 per cent share in global textiles and apparel trade, India contributed 10.33 per cent to its overall export basket in the fiscal year 2021-22.

Moreover, global organizations such as Cotton Connect, Fashion for Good, Better Cotton Initiative, Responsible Sourcing Network, International Textile Manufacturers Federation (ITMF), International Apparel Federation, India International Textile Machinery Exhibitions Society (India ITME Society), and Bangladesh Garment Manufacturers and Exporters Association (BGMEA), alongside Cotton Egypt Association, are collaborating with BharatTex 2024 for discussions and deliberations on global textile and apparel trends.

The discussions at the event are anticipated to centre around sustainability, circularity, traceability, Industry 4.0, innovation, green financing, and other pertinent topics. The ministry has scheduled over 40 knowledge sessions with participation from chief experience officer (CXO) level delegates representing various renowned companies.

Dmestic textile industry leaders like Aditya Birla Group, Reliance Group, Arvind Fashion, Welspun Living, and Trident Group will showcase their products to global buyers. Over 3,000 exhibitors have already registered for the show, with limited spaces remaining at the venues.

Maharashtra, Uttar Pradesh, Madhya Pradesh, and Gujarat will also exhibit their products at the event. The domestic apparel & textile industry contributes about 2.3 per cent to the country’s GDP, 13 per cent to industrial production, and 12 per cent to exports. India's prominence as a global producer of cotton, jute, silk, and hand-woven fabric further accentuates its significance in the textile realm.