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Textile Machinery Loans

Industry overview

India’s textile and clothing industry is one of the foundations of the national economy. It is also one of the largest contributing sectors of India’s exports worldwide. This industry generates significant employment through both forward and backward linkages, in traditional (production of natural fibres) as well as modern activities (textile design, etc). After agriculture, the textile industry is the second largest employment generator in the country.

Current industry

The Indian textile industry is estimated at US$ 55 billion, with 64 companies catering to domestic demand. It accounts for 14% of industrial production, which is 4% of GDP, employs 35 million people and accounts for nearly 11% of the country’s total exports basket. India’s advantage in textiles stems from its huge raw material base. It is the second largest producer of cotton and silk, and stands fourth in the production list of synthetic fibres.

Expected growth

India’s contribution in the world production of textile fibres and yarns is about 12% and is expected to grow even further. The Indian textile industry is known for its strong growth, sustained by heavy domestic consumption as well as export demands. Exports of Indian textiles and clothing are anticipated to reach US$ 64.41 billion by the end of March 2017 and we can expect to increase our textile share in world trade from the current level of 4.5% to 8% by 2020.

EFL contribution

Managing finances before the business can be a major hindrance, and in a market as competitive as this, direct capital investment is not always a possibility. At EFL, we understand how important it is to have the latest technologies and well-maintained, ultra-modern machinery to stay up-to-date in the textile business and we extend our full cooperation and support with regard to equipment finance. We pride ourselves on our trusted and long-term relations with our customers.

Machines we finance

  • Spinning mill machines
  • Weaving mill machines
  • Knitting machines
  • Embroidery machines
We are happy to help your business spurt with bountiful success by offering you our equipment finance services!