India's Textile Machinery Exports Are On The Rise

Market Intelligence

India's Textile Machinery Exports Are On The Rise

India’s textile machinery exports registered a robust growth of 21.4% to US$ 762.15 million in the first nine months of 2022 (Jan- Sept) compared to the corresponding period of the last year (CPLY). In Jan-Sept 2022 period, spinning, twisting and yarn preparation machines was the largest exported commodity in the segment, with a share of 34% in the India’s total textile machinery exports. The export of the commodity totalled to US$ 262.36 million in (Jan-Sept) 2022 with growth of 56%. Bangladesh is the top market for India’s textile machinery exports. Exports to Bangladesh totalled to US$ 107.88 million with a growth of 91.17% and the country stakes 14% in the total textile machinery exports of India. The other countries listed in top five are Turkey, China, Germany and U.A.E. As per the statistic, month-wise exports in 2022 have been a on average range. The export witnessed a drop in April, but it picked up in following month itself and continued to remain on the same scale. The peak was witnessed in March and June with export of US$ 89.07 million and US$ 89.18 million respectively. Quarter-wise the country’s exports in 2022 (Jul-Sept) totalled US$ 260.32 million and registered a growth of 2.2 % over CPLY and 5.8% over the previous quarter. Commodity-wise textile machinery exports from India India’s spinning, twisting and yarn preparation machines have always been high in demand and the top exported commodity under the textile machinery export segment. In 2022 (Jan-Sept), the spinning, twisting and yarn preparation machine exports totalled to US$ 262.36 million with a growth of 56% over the CPLY. The commodity stakes a share of 34% in the total textile machinery exports of India. Turkey remains as the largest export market for India’s spinning and twisting and yarn preparation machine. The exports of this commodity to Turkey increased by 66.82% to US$ 79.61 million and Bangladesh have witnessed a very strong growth of 232.41% to US$ 57.95 million in 2022 (Jan-Sept) over the CPLY. Under this commodity, cotton spinning ring frame machine was exported the most with an export value of US$ 176.26 million and growth of 110.16% in 2022 (Jan-Sept) over the CPLY. Turkey is the top export market for Indian cotton spinning ring frame machine with an export value of US$ 56.10 million with a growth of 78.50% in 2022 (Jan-Sept). Following Turkey, Bangladesh is the second top market with US$ 42.95 million and China is third with US$ 17.50 million. Cotton combing machines is the second largest exported product under the spinning, twisting and yarn preparation commodity. The exports of cotton combing machine totalled to US$ 18.39 million with a growth of 59.5% in 2022 (Jan-Sept) over the CPLY. Auxiliary machinery used with other machines is the second highest exported commodity in the segment. The exports of auxiliary totalled to US$ 177.96 million with a growth of 31.6% and share of 23% in the total textile machinery exports of India in 2022 (Jan-Sept). For this commodity, China remains as the largest exported market with an export of US$ 31.28 million and growth of 55.38% in 2022 (Jan-Sept). Parts and accessories of machine used for extruding, drawing and texturing of their auxiliary machinery is the topmost product under this commodity, the exports totalled to US$ 82.51 million and perceived a growth of 44.46% in 2022 (Jan-Sept) over the CPLY. China is the top export market for this product. And export to China of this product totalled to US$ 25.74 million, with a growth of 74.37 % in 2022 (Jan-Sept). This commodity stakes 14% share in the total textile machinery exports of India. Exports of printing machinery* has shown an average growth of 5.6% to US$ 104.77 million in 2022 (Jan-Sept) over CPLY. This commodity stakes a share of 14% in the total textile machinery exports of India. Japan is the top market of India’s printing machinery with an export of US$ 11.21 million and growth of 2.62%. A part of other printing machinery used for ancillary to printing is the topmost product exported under the commodity. The exports of this commodity totalled to US$ 16.31 million with a growth of 17.32% in 2022 (Jan-Sept) over the CPLY. Weaving machines (looms) have perceived a negative growth of 9.2% to US$ 26.66 million in Jan - Sept 2022 over the previous. This commodity stake 3% share in the total textile machinery exports of India. Quarter-wise, weaving machine exports have perceived a notable growth of 53.9% in Q3 2020 to US$ 10.73 over the previous quarter and 3.5% growth over CPLY. Bangladesh is the leading market for India’s weaving machines. The exports of weaving machine to Bangladesh totalled to US$ 5 million and a growth of 4.3%. Indian knitting machine manufacturers have witnessed a fall in demand in the export market. This commodity’s exports fell by 72.9% to US$ 2.35 million in 2022 (Jan – Sept) over CPLY. Sewing machinery too have witnessed a negative growth of 11.4% to US$ 49.69 million in 2022 (Jan-Sept) over CPLY. Germany is the largest market here. The sewing machine exports totalled o US$ 11.39 million but perceived a negative growth of 7.63%. Country-wise textile machinery exports from India Bangladesh takes over the top place from Turkey. In 2022 (Jan-Sept) textile machinery exports to Bangladesh totalled to US$ 107.88 million registering a growth of 91.17% in Jan-Sept 2022 over the CPLY. The country takes a share of 14% in the total textile machinery exports from India. Spinning, twisting and yarn preparation machines were the most exported commodity to Bangladesh in Jan-Sept 2022 with a value of US$ 57.95 million and witnessed a very strong growth of 232.41% over the CPLY. Auxiliary machinery is the second highest exported commodity, the exports rosed by 585% to US$ 13.74 million. Printing machinery exports went up marginally by 2.62% to US$ 11.21 million. Weaving machine (looms) exports to Bangladesh totalled US$ 5 million with a growth of 4.35%, while extruding, drawing, texturing machine exports witnessed a growth of 1317.5% to US$ 5.82 million in Jan-Sept 2022. Turkey is now the second largest market and exports totalled to US$ 99.01 with a growth of 35.28%. The country stakes 13% share in the total textile machinery exports from India. Here too, spinning, twisting and yarn preparation machine were exported the most to Turkey in Jan-Sept 2022 with an export value of US$ 79.61 million and growth of 66.82% over the CPLY. Auxiliary machinery exports to the country totalled to US$ 9.91 million with a growth of 24.37 for the same period. Extruding, drawing, texturing machine exports to Turkey witnessed the drop in the growth. The export of this commodity totalled to US$ 4.44 million a fall of 39.08% in Jan - Sept 2022 China, which is now the third largest market, has witnessed a strong growth of 102.37% in Jan-Sept 2022 and is one of the highest growth’s in the top ten export markets. The exports of China totalled to US$ 60.53 million and stakes a share of 8% in the total textile machinery export of India (Jan-Sept 2022). To China its only spinning, twisting and yarn preparation machine and auxiliary machinery which was exported on heavy scale. Spinning, twisting and yarn preparation machine exports totalled US$ 22.73 million registering a growth of 406.08%, while auxiliary machinery exports totalled to US$ 31.28 million and growth of 55.38% in Jan-Sept 2022. Printing machinery exports to China too have perceived a growth of 36.07% to US$ 5.81 million, Germany has gone down one position, now standing as the fourth largest export market. The country perceived a growth of 25.42% to US$ 54.47 million and stakes 7% share in the total textile machinery exports of India (Jan- Sept 2022). Here to Germany, auxiliary machinery commodity is exported the most, the exports totalled to US$ 19.12 million with a growth of 59.5% and second most exported commodity is sewing machinery with an export of US$ 11.39 million, but the commodity witnessed a drop by 7.63% in Jan-Sept 2022. Germany recorded a zero export for knitting machinery from India. In the period Jan-Sept 2022, there was no records of exports, while for the same period of the last year India had recorded US$ 2.37 million value of knitting machinery exports to Germany. U.A.E has taken good jump growth-wise. The country witnessed a growth of 71.08% to US$ 44.36 million and takes away 6% share in the total textile machinery export of India. Here household or laundry type of washing machine was exported the most. The export of this commodity totalled US$ 13.92 million with a growth 210.55%. Other than this commodity, printing machinery was exported with US$ 8.22 million and growth of 60.17%, second is auxiliary machinery with a growth of 96.6% to US$ 7.41 million and third spinning, twisting and yarn preparation machine exports to US$ 7.18 million and 60.14% growth. Vietnam is now the 8th largest market and has witnessed the highest growth 140.5% in the top ten export markets. The exports to Vietnam totalled to US$ 21.88 million and stakes a share of 3% in Jan-Sept 2022. The only reason for this strong growth is the exports of spinning, twisting and yarn preparation machine. The export totalled to US$ 15.39 million and growth of 419.67% in Jan-Sept 2022. Under the commodity out of total exports US$ 15.39 million, cotton spinning ring frame exports totalled to US$ 13.23 million and growth of 1,88,9400% in Jan – Sept 2022. Weaving machinery (looms) exports to Vietnam has perceived a growth of 16.54% to US$ 2.21 million.