Published on September 7, 2015

Textile industry plays an important role in the Indian economy. As per recent report, Textile sector contributes 14% to industrial production and 4% to GDP. India has highest hand loom capacity with 63% of the world’s market share.

Indian textile industry is anticipated to reach US$ 141 billion by 2021 from US$ 67 in 2014. Some factors responsible for the rapid growth of textile industry that are increased penetration of organized retail, favorable demographics and increasing income level.

India is one of the second largest exporters of textile and clothing in the world. Now a day, Indian Government policy aims to achieve $300 billion textile exports by 2024-25 and foresees creation of further 35 million jobs, as per market source. The government policy also focused on providing investment opportunities for foreign companies across the specialty fabric and fabric processing  for all type of natural and synthetic textiles, technical textiles etc.

The new policy intends to address adequate skilled workforce, labour reforms, attract more investments and provide a bright future road map for the textile and clothing industry.