Global textiles market is projected to be worth $655 billion by 2010 from the present $400 billion, says the study conducted by the PHDCCI.
Due to its inherent cost and operational advantages, India will also pocket a larger share in the two principal export markets of the United States and European Union, the study forecast, adding the country's market share in the US will almost quadruple to 15 per cent while that in EU to 11 per cent from the current 9 per cent.
Though China, with its low labour cost, might pose competition, India enjoys an edge over China and South-east Asia in both textiles and clothing, a chamber release, quoting the study, said.
In textiles, India's advantage stands at '4.67' as compared to China's '3.18'. The country, however, lags behind in technological upgradation, infrastructure and suffers due to its standardised mass production market.
"The proportion of capital costs to gross output is 6.7 per cent in India's textile industry and 7.8 per cent in garment industry, while those in China are at 12.2 and 12 per cent respectively," the study noted.
