With the current size of US$ 36 bn (2005), Indian textile industry is one of the largest in the world. What is more encouraging is that the industry has been growing at around 20 per cent per annum in the recent past. The break-up of the industry of 2005 indicates exports of around US$ 16bn and internal sales of US$ 20bn. The current projection indicates that the industry is progressing to grow to the size of US$ 85 bn by 2010 and further to US$ 150 bn by 2015 at CAGR 16 per cent. However, the profile of the industry, in terms of internal sales and exports, is likely to undergo a sea-change. As of 2005, internal sales at US$ 20 bn are leading the exports at US$ 16 bn by 20 per cent. However, by 2015 in a total turn over of US$ 150 bn, the export at US$ 82.5 bn are projected to lead the internal sales at US$ 62.5 bn by around 31 per cent totally reversing the current trend.

The projections are that the growth in the coming decade will primarily come from the apparel segment. By 2015, this segment will account for US$ 33 bn out of US$ 82.5 bn total exports. The fashion garment segment in India will also rise faster. Because, 60% of the population in this country is less than 35 years making it an ideal market for the fashion garment.

If we look at the post quota regime, it presents an interesting scenario. During this period, the overall US imports of textiles and apparels increased by just 7 per cent whereas Indian textile exports to US increased by 27 per cent. On the same line, EU imports of textiles and apparels increased merely by 1 per cent but the Indian textile and apparel exports to EU increased by 18 per cent.

It is also a heartening development to note that Indian exports to US and EU are growing faster than China. Globally, India is the second largest beneficiary after China in exports to EU and US in 2005. In May 2006, Indian exports to US increased by 17.82% compared to May 2005. The increase for the same period in case of China is 0.93%. This is because huge amount of inflow of Chinese textiles into the US and EU markets posed a threat to the domestic manufacturers in the US and EU after the removal of quota system. Thereafter, US and EU have again imposed quotas / restrictions on certain Chinese products up to 2008. China also has other internal problems like supply of cotton falling short of demand, major manufacturing cities experiencing labour shortages, inadequate land and electricity, and alarming rate of environment deterioration. This all happened because of over speeding by China. As against this, acceptance of Indian textile products in the US and EU are good signs for further g rowth and exports in this sector. Other regions that the Indian exporters can target are the Middle East, South Asian and South East Asian countries.

This shows that happy days are here again for the Indian textile sector. However, let us not be complacent. In the present age of information technology, ultimately knowledge will be a key driver to the progress. The need therefore for providing focussed and encapsulised information hardly requires to be emphasized.

Textile Review is an effort in the direction of bridging the information gap. With this maiden issue, we would like to resolve our commitment for providing quality information coming from the experts in the relevant field. It is also impossible that the busy entrepreneur and managers of the present day can manage to read every important piece of information that gets published. This magazine will aim at providing news snippets covering the information that matters from various sources. Ultimately, in the present day of knowledge economy, we believe that knowledge is power and one who has the earliest access to the knowledge shall be the most powerful.

With this humble commitment to place that power of knowledge in your hands, we make this beginning. Your support, counseling and at times constructive criticism will help us reaching our desired goal, while striving for excellence.

With this, I commend this issue in your hands.