India’s textile and apparel industry, already among the world’s largest, is poised for significant growth and development. 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.
A Thriving Industry:
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.
Abundant Resources:
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:
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:
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:
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.
