Maharashtra Government announced to set up textile park in Beed

India: The government of Maharashtra announced to set up an integrated textile park in the Beed city, in addition to a 500-hectare textile park in Amravati. The second integrated textile park is a part of government plan that has the objective to open eight textile and apparel mega parks in the cotton belts of the state. The remaining parks are expected to be introduced in Jalgaon, Aurangabad, Buldhana, Akola, Parbhani and Jalna. The integrated plant would boost textile exports from the state under “Make in India” initiative that aims to promote textile and apparel sector across Asia and European Union with as many Free Trade Agreements (FTAs) as possible. In addition, the plant would generate more employment opportunities in the state and ensure efficient utilization of the textile production resources, particularly cotton. Consequently, Indian textile and apparel market is expected to capture major chunk in the foreign markets with prime focus on Chinese market.  

Tech Sci Research depicts that increase in the textile production capacity across India would boost the use of speciality textile chemicals used by textile processing industry for dyeing and processing of textiles in order to get the final end product with required characteristics.

According to the recent report published by TechSci Research, “India Textile Chemicals Market Forecast & Opportunities, 2018”, the textile chemicals market in India is expected to grow at the CAGR of approximately 12%, in terms of industry revenue. The growing product innovation by the textile chemical manufacturers, such as BASF, Clariant and Huntsman coupled with government initiatives for technical textiles is driving the demand for speciality textile chemicals across the country.