India to step up cooperation with Egypt in textiles sector
India has vowed to step up its collaboration with Egypt in the textiles sector and said that talks were on to increase textile machinery supplies to the Arab nation. The information was shared by India's Ambassador to Egypt, Sanjay Bhattacharyya just ahead of the Cairo’s Fashion and Tex Exhibition, which also hosts an India pavilion.
India on 12 September 2017 vowed to step up its collaboration with Egypt in the textiles sector.
The information was shared by India's Ambassador to Egypt, Sanjay Bhattacharyya just ahead of the Fashion and Tex Exhibition, which opened in Cairo the same day.
Bhattacharyya said that both India and Egypt share a long tradition of exchanges in the textiles sector. He revealed that talks were on to increase textile machinery supplies to the Arab nation, as Indian machinery is very good in quality and it would be very suitable for the Egyptian market as like India, Egypt too has a large population and labour force.
Further, he stated that India stands ready to work with Egypt towards attainment of its new textile policy goals in production as well as in trade and investments.
About the Fashion and Tex Exhibition
• The exhibition is being organised at the Cairo International Convention Centre. It will run till 16 September 2017.
• Thirty-seven Indian textile companies would be participating in the exhibition.
• The Indian firms are part of a delegation from the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC), an apex body of manufacturers and exporters of man-made fibre textiles, in coordination with the Federation of Indian Export Organization (FIEO) and the Indian Embassy there.
• The companies would be showcasing a wide range of products including yarns and fabrics.
• The exhibition would also be hosting an India Pavilion.
• The main objective behind the participation of Indian companies at the exhibition is to enhance cooperation with their Egyptian counterparts and to forge a win-win partnership between the Indian and Egyptian companies.
• The aim is to strengthen the trade between the two countries, particularly in the fast-growing area of Man-Made Fibre (MMF) textiles.
• India’s textile industry is the second in the world and has a wide presence globally, especially in the market of man-made fibers.
• The Indian fabrics have a range of products that include both expensive products as well as products with reasonable prices.
• Egypt has traditionally been one of India's most important trading partners in the gulf region. India is Egypt’s 10th largest export destination and also the 10th largest import source.
• During the last financial year, bilateral trade between India and Egypt was about USD 3.23 billion.
• India exported around USD 240 million worth of textiles and clothing products alone to Egypt during 2016.
• Man-made fibre textiles valued at USD 97 million were one of the important products in the export basket, along with cotton (USD 131 million), apparel (USD 2.32 million), Jute (USD 4.4 million) and carpet (USD 0.36 million).
• The main man-made fibre textiles exported by India to Egypt include polyester viscose fabrics, polyester blended fabrics, synthetic filament fabrics, shawls/scarves, laces, viscose spun yarn, polyester spun yarn, texturised yarn and polyester staple fibre.