Published on May 16, 2016

India is world’s largest producers of textile and garments. The Indian textiles and apparel industry is expected to grow to USD 223 billion by 2021. The Indian textile industry accounts for around 24% of the world’s spindle capacity and 8% of global rotor capacity.

Presently Chinese costs are going up, the Chinese focus on home consumption is growing apart from exports and as the World Bank papers has also declared that in the next 10 years China will reduce their market share, which is a big opportunity for Indian products. If India does take good steps in this direction, then India can increase its market share globally for textile exports overall, said by market players. The slow growth of China will give big chance to India to grow more.

Textiles and apparel exports from India are estimated to increase to USD 65 billion by 2016-17. The Indian textile industry appears promising, sustainable by strong domestic consumption as and export demand.

Recently the retail sector has experienced a speedy expansion in the past decade with the entry of several international players into the Indian market. The organized apparel segment is expected to grow at a Compound Annual Growth Rate (CAGR) of more than 13 per cent in the coming 10 years.