South Asia and Southeast Asia are rich in low-cost human resources and are close to the origin of raw materials. The development of the labor-intensive textile industry has unique advantages. The textile industry has become an important industry in the economies of all countries. Take India and Bangladesh as examples. At present, the textile and garment industry is the most important manufacturing industry in India, accounting for more than 10% of the country’s total manufacturing industry; Bangladesh’s the textile and garment industry is the country’s pillar industry, and the industry is developing rapidly. The garment exports throughout the year. It accounts for more than 70% of the country’s total exports, and its export scale ranks second in the world, second only to China.
(The export value of clothing from South Asia, Southeast Asia and other countries continues to grow steadily)
.png)
(Bangladesh's textile and apparel exports show a sustained growth momentum)
.png)
Southeast Asia and South Asian countries have become "depressions of value" for the global labor force, with significant labor cost advantages. According to data, in 2020, the average monthly salary of manufacturing employees in China, Malaysia, Vietnam, Indonesia, and Pakistan will be 740 US dollars, 522 US dollars, 210 US dollars, 138 US dollars, and 131 US dollars respectively. In 2021, the average monthly salary of employees in the manufacturing industry in Thailand is US$358. Although the wage level of my country’s manufacturing industry is much lower than that of developed countries such as Germany, Japan, and Italy, the current labor cost is much higher than that of Southeast Asian and South Asian countries. 3.5 times, 5.4 times, and 5.6 times, Southeast Asia and South Asian countries have become global labor "value depressions", and their labor cost competitive advantages are significant.
It can be seen that the global textile industry will continue to transfer to South Asia, and the textile industry in South Asia will have more room for development. As the machinery manufacturing industry of South Asian countries is underdeveloped, they need to purchase machinery to meet the demand for machinery. Therefore, there is a great demand for textile machinery.
In recent years, the textile and apparel industries in various countries have developed steadily. According to data, the total textile and apparel exports of Vietnam, Bangladesh, India, Cambodia, Indonesia, Thailand, Pakistan, and Sri Lanka have increased from US$68.707 billion in 2015 to 2020. At 102.9 billion U.S. dollars, a compound growth rate of 6.98%. At the same time, judging from the continuous expansion of the scale of India's registered power looms, the industry is showing a trend of sustained and stable growth. In general, the textile industry in South Asia and Southeast Asia under the background of industrial transfer is growing steadily, which is expected to open up room for growth in the demand for new purchases of textile machinery in the region.
(The number of power looms in India shows a steady growth trend)
At present, China's textile machinery is mainly exported to India, Bangladesh, Vietnam, Malaysia, Indonesia, Pakistan, and other countries. In 2020, China's textile machinery exports to these 6 countries will account for 68.64% of the total exports, and the proportion will continue to increase. . This is due to factors such as the transfer of the global textile industry and local policies supporting the development of the textile industry. The steady development of the local textile industry is expected to bring about a large number of new purchases of textile machinery and the replacement demand for the replacement of stock equipment. The steady development of the local textile industry is expected to bring textile machinery A large number of new purchases and replacement requirements of existing equipment. The global textile industry's production capacity transfer is superimposed with strong support from local policies, and the rise of the textile industry in South Asia and Southeast Asia has opened up a new growth space for textile machinery.
As a well-known textile machinery company in China, Suntech has been deeply involved in intelligent machinery for 50 years. It has developed and produced spunbond non-woven machines, spunmelt non-woven machines, melt-blown machines, spun lace non-woven machines and other sanitary and healthy equipment, shaft magazines, and electric machines. Spindle cars, fabric inspection machines, packaging machines, rapier looms, and other textile machinery have more than 4,500 customers and 15,000 customer cases around the world, providing professional intelligent equipment for many international textile companies to help the world's textile industry.
