Annual investment in textile industry rises 30% yr/yr

TEHRAN – The director general of Clothing and Textile Office of the Iranian Ministry of Industry, Mining, and Trade has said that investment in the country’s textile industry increased by 30 percent in the previous Iranian calendar year (ended on March 20) in comparison to the preceding year.

Mohsen Gorji made the remarks in a press conference held for promoting the country’s first International Exhibition of Fabric and Related Industries (Fabric Fair 2023), IRIB reported.

Fabric Fair 2023 is due to be held during September 9-12 at Shahr-e-Aftab International Exhibition Center near Tehran.

Speaking at the conference, Gorji said more than $450 million worth of textile machinery and equipment were imported into the country in the previous year.

“We are trying to achieve eight percent growth, on average, in the production sector,” the official said.

According to the official, the country’s textile and clothing industry registered a 17.3 percent growth in the previous Iranian year and had the highest growth rate among other industrial sectors.

He further stated that there are some concerns regarding the supply of raw materials for the textile industry that should be taken into account by the government.

Most of the problems in the mentioned area are due to the lack of foreign currency allocation for the importers of such materials, he noted.

Gorji stated that 80 percent of the fabric needed in the country is produced domestically, saying: “The country’s textile industry has grown significantly in terms of quality and design, but sometimes our fabrics are sold in the market under the name of Turkish fabrics.”

Fabric Fair 2023 will be held in a space of 10,000 square meters with the presence of more than 90 domestic and foreign manufacturers and suppliers of fabrics active in various fields.

Several foreign trade delegations are also expected to visit the four-day event.


Source: Tehran Times