Textile boom in India?

The next decade is likely to be very good for the Indian textile industry, “and the industry will move to a different league in terms of size and scale,” said Sunil O. Khandelwal, chief financial officer of Alok Industries Ltd., Mumbai, India. Technopak, a textile consulting and research firm with offices in India, agrees, reporting that the Indian textile industry could triple its size from $70 billion in domestic and export production in 2009 to $220 billion by 2020. To achieve this target, Technopak estimates that the industry would need to invest approximately $70 billion, much of it importation of new technologies and expertise.