Targets USD100 million of Trade Exchanges at INTEXPO, an Exclusive Indian Textile Expo
Kuala Lumpur – India arranged ‘INTEXPO’, the first and exclusive Indian Textile Expo with the INTRADE Exhibition in Malaysia from 22nd to 24th November 2011 as a platform and gateway to expand its textile industry in Malaysia and ASEAN. INTEXPO 2011 is expected to attract USD100 million of export business over the 3-day event.
According to Mr. Vinod K. Ladia, Chairman, Synthetic And Rayon Textiles Export Promotion Council India (SRTEPC), INTEXPO was held in the context of the India-Malaysia Comprehensive Economic Co-operation Agreement (IMCECA) which came into effect on the 1st of July 2011.
“The textile industry of India is one of the largest in the world due to its production of yarns and fabrics. An economic relationship with Malaysia has been actively developed over the years with close to USD10 billion worth of export business conducted for the year 2010-2011, a substantial increase from USD 3.38 billion in 2004-2005.
“The textile and clothing export business between India and Malaysia was close to USD228 million for the year 2010-2011. India’s exports of textile and clothing to ASEAN region in 2010-2011 was around USD830 million,” enthused Mr. Ladia at the official press conference to announce INTEXPO which was held with INTRADE, Malaysia’s largest trade event with over 400 exhibitors and approximately 1000 international buyers from the ASEAN region. Both INTEXPO and INTRADE were held at MATRADE Exhibition and Convention Centre. (Malaysian Textile & Apparel Market)
As a show of India’s commitment and confidence in the economic growth of Malaysia and its ASEAN neighbours, the Ministry of Textile, India in association with the Ministry of Commerce and Industry, India and led by the Synthetic and Rayon Textile Export Promotion Council (SRTEPC), brought in 80 of India’s leading textile companies to Exhibition (List given in previous pages). He further stated that “INTEXPO is a pioneering effort by the Government of India and Indian textiles industry to showcase the entire range from fibres, yarns, fabrics, accessories and garments on a common platform. INTEXPO will help customers from Malaysia and the ASEAN region to see the latest range of Indian textile items across the textile value chain under one roof and conclude profitable business deals.” India has a thriving textile industry and its textile and clothing exports is expected to touch around US$32 billion in 2011-2012. India is the largest producer of jute, second largest producer of silk, cotton and cotton yarn and cellulosic fibre/yarn. India is also the fifth largest producer of synthetic fibre/yarn. The total market size of Indian textile and clothing industry is expected to be around US$80 billion by the year 2012. Of this total exports will be to the tune of US$32 billion.
As part of or ‘Look East’ policy, we are looking forward to meet and match businesses with our ASEAN peers and build strong bilateral trade between ASEAN and India. Malaysia is a great hub for us to begin this export expansion as it has a very conducive business environment and is a strong member of the ASEAN region.” concluded Mr. Ladia.
Currently, Malaysia is India’s 3rd largest trading partner among ASEAN countries, while India is Malaysia’s 7th largest investor worldwide. Also present at the media briefing was Mr. R.D. Udeshi, President of Reliance Industries Ltd, the largest producer of man-made fibres in India. “India’s confidence in Malaysia stems from several investment successes. One of which is the acquisition of Hualon Corporation in 2008 by Reliance Industries Limited. Now, renamed as Recron Malaysia Sdn. Bhd., it is the largest integrated polyester and textile company in the world,” said Mr. Udeshi.
Datuk Anil Rajvanshi, who is the Director of Recron Malaysia Sdn.Bhd shared, “We are now operating it Recron Malaysia sdn. Bhd. successfully and this company has become one of our major success stories outside of India. The unit currently employs 7,500 employees and earns a net foreign exchange of USD850 million,”
The media briefing was concluded by Mr. Aseem Mahajan, Trade Counsellor from the High Commision of India. “This is a great beginning to the IMCECA agreement and we are expecting more efforts to follow INTEXPO in developing the textile market in this region. We are definitely looking for more bilateral opportunities in various industries that can benefit not only both countries but also the region overall,” shared Mr. Mahajan in his closing address.
Other renowned companies participating at INTEXPO include Grasim Industries Ltd, Siyaram Silk Mills Ltd., Sutlej Textiles, Pioneer Textiles, Prime Textiles Ltd. and more. Spread over an area of up to 1,000 square metres, INTEXPO will showcase the entire range of Indian textiles and clothing including fibre, yarn, fabrics, made-ups, garments, embroidered fabrics, sarees, home textiles, jute specialities, handloom items, handicrafts etc.
To encourage buyers to INTEXPO, personalised sourcing opportunities will be made available via the India Invited Hosted Buyer Programme for key regional industry players.