-Mobile_581x360.webp)
India’s textiles sector is set for expansion with 11% year-on-year growth in Ready-Made Garments of all Textiles exports.
- Factors for growth of textile industry include end-to-end value chain capability; strong raw material base; large export footprint; and vibrant and rapidly expanding domestic market.
Textile sector of India
- Domestic apparel and textile industry contributes approx. 2.3 % to country’s GDP, 13% to industrial production and 12% to exports.
- India has a 4% share of global trade in textiles and apparel.
- India is 3rd largest exporter of Textiles & Apparel in world. (Ministry of Textiles Annual Report 2022-23)
- Textiles and apparel industry is 2nd largest employer in country providing direct employment to 45 million people and 100 million people in allied industries.
Challenges associated with Textile Sector
- Competition from Low-Cost Countries like China and Vietnam create pressure on Indian market.
- Shortage of skilled workers, particularly in areas like design, technology, and management.
- Small and medium-sized textile enterprises often face difficulties in accessing affordable capital for investment.
- Inadequate logistics, power supply, and transportation networks effects industry’s efficiency.
Measures taken for Textile Sector
|
