As one of the leading producers of textiles and apparel globally, India continues to cement its position as a powerhouse in the industry, contributing significantly to the country’s GDP and employment.
India Shines as One of the World’s Largest Producer of Textiles and Apparel 2024
A Thriving Industry- Textiles and Apparel
The domestic apparel and textile industry in India make a substantial contribution to the country’s economy, accounting for approximately 2% of the GDP and 7% of the industry output in value terms. In the fiscal year 2020-21, the textile, apparel, and handicrafts sector accounted for 11.4% of India’s total exports, establishing the country as the third-largest exporter of textiles and apparel in the world.
India’s textile and apparel industry has indeed played a significant role on the global stage, positioning the country as one of the world’s largest producers in this sector.
This achievement is a testament to India’s rich textile heritage, skilled workforce, and the industry’s ability to adapt to changing market demands.
Textiles and Appare
The textile and apparel sector in India encompasses a diverse range of products, from traditional handwoven fabrics to modern, machine-produced garments. India’s strengths lie not only in the volume of production but also in the quality, craftsmanship, and versatility of its textile offerings.
Several factors contribute to India’s prominence in the global textile and apparel market: – Textiles and Appare
- Diverse Textile Heritage: India boasts a centuries-old tradition of textile production, with various regions known for their unique weaving techniques, dyeing methods, and traditional attire. This diversity allows the country to cater to a wide range of preferences and market segments.
- Skilled Workforce: India has a large and skilled workforce in the textile and garment industry. The craftsmanship passed down through generations, combined with modern manufacturing practices, ensures a high level of expertise in producing textiles and apparel.
- Cost-Competitive Manufacturing: India is known for offering cost-competitive manufacturing solutions. The country’s ability to produce textiles and garments at different price points has made it a preferred sourcing destination for global brands.
- Adoption of Technology: While traditional craftsmanship remains a strong point, India has also embraced technological advancements in textile manufacturing. This blend of tradition and modernity allows for efficient and scalable production.
- Export-Oriented Industry: India’s textile and apparel industry has a robust export sector, contributing significantly to the country’s economy. Indian textiles are sought after in international markets, further solidifying India’s position as a global player.
It’s important to note that the textile and apparel industry is dynamic, and global dynamics can influence market shares.
Nevertheless, India’s enduring presence as one of the world’s largest producers reflects its continued relevance and contribution to the global textile and apparel landscape.Textiles and Appare
Abundant Resources- Textiles and Appare
India boasts ample resources for textile production. The country ranks among the largest global producers of cotton and jute, and it is the second-largest producer of silk. In fact, an astounding 95% of the world’s hand-woven fabric originates from India. The technical textiles segment, valued at approximately $16 billion, contributes around 6% to the global market. Moreover, the textiles and apparel industry is a significant employer, providing direct employment to 45 million people and an additional 100 million people in allied industries.
PPE Manufacturing Powerhouse- Textiles and Appare
India has emerged as the second-largest manufacturer of personal protective equipment (PPE) worldwide. Over 600 companies in India are certified to produce PPE, a market that is expected to surpass $92.5 billion by 2025, up from $52.7 billion in 2019. This remarkable growth highlights India’s manufacturing capabilities and its ability to meet global demands.
A Promising Future- Textiles and Appare
With the industry’s upward trajectory, the textile industry in India is projected to reach a business size of $250 billion by 2025. In recent years, the sector has already made notable strides, contributing 2.3% to the country’s GDP and accounting for 7% of the industry output in value terms. India also holds a significant 5% share of the global trade in textiles and apparel.
Export Success- Textiles and Appare
India’s export of cotton textiles has witnessed remarkable growth, reaching $17.2 billion with a 39% share in the market. This growth represents a significant increase of 54% and 67% over the fiscal years 2020-21 and 2019-20, respectively, highlighting the country’s prowess in meeting global demands and expanding its export footprint.
India’s textile and apparel industry is an economic powerhouse that continues to thrive and expand. With its abundant resources, skilled workforce, and manufacturing capabilities, India is set to further solidify its position as a global leader in textile production and exports. As the industry evolves, the country’s contribution to the GDP and employment opportunities will continue to grow, propelling India’s textile and apparel sector to new heights on the global stage.