India ITME Society, the non-profit apex industry body from India organised the ‘India Networking Programme’ at Uzbekistan coinciding with CAITME on September 8, 2022. This networking programme was held with the purpose of highlighting the strengths and opportunities offered by India, home to 2nd largest textile market in the world, and invite business delegation from Uzbekistan to India ITME 2022, a textile machinery and accessory exhibition hosted in India every once in 4 years. It will be held from December 8-13, 2022, at IEML, Greater Noida, India.
India ITME is one business event where export promotion councils, trade promotion departments, research institutes representing 22 chapters of textile segment come together to interact, explore and expand business networks. India ITME is the single platform where all stalwarts of textile industries come together along with financial institutions, policy makers and government officials, making it the best and ideal forum for catapulting textile business efficiently and competently globally.
This year, the exhibition is expanded to include end to end solution for fibre to end products and complete sourcing solutions and latest technology. India ITME Society has invested significantly over the past several years to bolster its capabilities in helping the textile industry clients in their B2B transformation initiatives and now has already started working on buyers sellers meet and technology workshops and seminars useful for the future growth of the textile Industry, the Indian ITME Society said.
India ITME 2022 ensures optimum experience and value addition for its exhibitors and visitors with the interactive and focused sessions on enthralling topics by renowned speakers and industry stalwarts on practical topics which is the need of the hour. It is the best opportunity to discover new knowledge and discuss with experts doing ground-breaking work in the textile and textile engineering industry vertical.
Uzbekistan and India have the potential to experience flourishing growth. Uzbekistan, strategically located in the heart of central Asia, is the 6th largest cotton producer. Cotton contributes 68 per cent to the country’s export of fibre which was recorded to be $2.66 bn in 2021. Once upon a time, it was the 3rd largest exporter of cotton. Development of the sector started with units built up for processing 706 thousand tons of cotton fibre and thereby producing fabric in the range of 510 mn square mtrs of fabrics coming from 89 units producing knitted fabric, and 495 enterprises for finished knitwear. Foreign investments are huge in the country with around 300 textile companies established through foreign investment from China, South Korea, Russia, India, Singapore, Germany, Switzerland, and others.
The country’s exports of textile were higher vis-à-vis its imports in 2021. Its exports in overall textiles and apparel are increasing at a CAGR of 18 percent. The country majorly imports manmade fibres alone contributing 95 percent to the total imports worth $0.37 bn in FY21. Having a well-developed spinning segment, the country exported $32.53 bn in FY21. The fabric exports were $8.06 bn in the same year.
In 2018, Uzbekistan recorded imports worth $710.38 mn and in FY21 imports worth $474.46 mn with spinning having a major share constituting 36 percent followed by processing and garmenting machinery having a share of 19 percent and 14 percent respectively. Today the country’s textile machinery imports are majorly being imported from China. But India is one of the lookout countries for advanced engineering solutions. Uzbekistan India strategic alliance can aid in the best sourcing of spinning and other allied machinery into Uzbekistan that will uplift and advance Uzbekistan’s growth further and creates its name not just as a producer for textiles but as a strong spinner. The spinning sector which is currently accountable for more than 1.6 mn spinning spindles will further increase and through channel partners in India, the current statistics of having 100 thousand chambers can also further increase. The garmenting machinery range and weaving machinery from India can also develop new brands to come into the country as well as increase their woven fabric production, the report added.
With the dynamics of youth and urbanization in Uzbekistan combined with India’s brand image and strong engineering background, a strategic partnership by mapping the skillset of both countries will bring prosperity to both countries. Both India and Uzbekistan having the strength and rich heritage in cotton will only benefit from one another. India ITME 2022 is being held at World class venue IEML Greater Noida, a well-designed Exhibition Venue in the National Capital Region and one of the largest in India spread across 235,000 square metre area.
India ITME 2022 is expected to host more than 1500 exhibitors from Austria, Belgium, China, Czech Republic, France, Germany, Hong Kong, Indonesia, Italy, Japan, Slovakia, South Korea, Spain, Switzerland, Taiwan, Turkey, United Kingdom, United States of America in 22 Chapters with over 1,50,000 visitors over the 6-day period. This is a once in a 4-year opportunity to view 1500+ live machineries from across the world on display from 22 chapters and meet agents, dealers, government officials on one platform years making India ITME 2022 the apex B2B event in the textile and textile engineering industry in the whole of Southeast Asian region.
India ITME 2022 strives to assimilate and disseminate more knowledge and power for industry through the futuristic technology topics at the conference sessions and planned B2B meetings with visiting foreign delegates + business visitors.
S Hari Shankar, Chairman, India ITME Society, has formally extended an invitation to India ITME 2022 in December to ‘Explore the Soul of Textiles’. He has also encouraged an official delegation from Uzbekistan that could mark the beginning of a stronger bilateral trade and investment activities in the textile sector between India and Uzbekistan.
