Published on March 28, 2016

India Textile Industry is one of the leading textile industry in the world. It plays a major role in the economy of the country. India earns about 27% of its total foreign exchange through textile exports. India is the second largest producer of textiles and garments in the world.

The Indian textiles and apparel industry is expected to grow to a size of USD223 billion by 2021. Profuse availability of raw materials and skilled workforce has made the country a sourcing hub. Textiles sector is one of the largest contributors to India’s exports with approximately 11 per cent of total exports.

As per report, the Government of India has implemented several export promotion measures such as Focus Market Scheme, Focus Product Scheme and Market Linked Focus Product Scheme for increasing share of India’s textile exports.

In near term, the Government of India is expected to soon announce a new National Textiles Policy. The new policy aims at creating 35 million new jobs by way of increased investments by foreign companies.

As per the textile market analyst, Indian textile market is growing with a rapid velocity and for the remarkable growth of this segment Indian government also has taken initiative which will boost the sector’s growth in near term.