India is Knitting the future

The domestic textiles and apparel industry contributes 2.3% to India’s GDP and accounts for 13% of industrial production, and 12% of the country’s export earnings.

Industry Scenario

The textiles and apparel industry in India has strengths across the entire value chain from fiber, yarn, fabric to apparel. It is highly diversified with a wide range of segments ranging from products of traditional handloom, handicrafts, wool and silk products to the organized textile industry.

The organized textile industry is characterized by the use of capital-intensive technology for mass production of textile products and includes spinning, weaving, processing, and apparel manufacturing.

"The textiles and apparel industry in India is the second-largest employer in the country providing employment to 45 million people".

It is expected that this number will increase to 55 million by 2020.

• FDI in the textiles and apparel industry has reached up to $3.1 bn during 2018-19
• Exports in the textiles and apparel industry are expected to reach $300 bn by 2024-25 resulting in a tripling of Indian market share from 5% to 15%

Highlights:

 Largest producer of cotton & jute in the world

Second largest producer of polyester, silk and fibre in the world

 Second largest employment provider in India after agriculture

Foreign Investments – Recent Announcement

• Dec 11, 2019  -  Youngone Corporation, a Korean textile and apparel company, will invest INR 900 cr at the Kakatiya Mega Textile Park (KMTP) at Warangal.
• Sep 23, 2019  - Hyosung begins full-scale operation of spandex plant in India.
• Jul 08, 2019  -  Reliance Industries Ltd. ties up with Turkey's Kivanç Tekstil to manufacture and market eco-friendly textile brand R|Elan's GreenGold fabric in the country.

INDUSTRY TRENDS

Branded garments

Combination of exclusive brand stores and multi-brand outlets

 Technical textiles

Medical textiles, agro-textiles, geotextiles protective clothing

Man-made fibres

 Carpets, conveyor belts, fire-resistant materials

Textile Machinery Manufacturing

Across segments such as spinning, knitting, weaving and processing

"India is the 3rd largest exporter of textile and apparel globally"