AdvantEDGE INDIA
Representing a rich tapestry of ancient craftsmanship and cutting-edge innovation, the Indian Textile Industry is poised for a bright and dynamic future. With advancements in technology, it thrives as a beacon of versatility across a variety of textiles. A vital contributor to India's economic landscape and a global trendsetter, The Indian Textile Industry anticipates a future marked by continuous innovation, sustainability, and digital transformation.
FASTEST GROWING ECONOMY
Rapid GDP Growth
Growth rate of 7.2% in FY 2022-23
3rd Largest Economy by 2027-28
Currently at USD 3.75 Tn, Expected to be USD 35 Tn by 2047
Rising Per Per Capita Income
Currently at USD 2,350 expected to be USD 26,000 by 2047
Young Workforce
2nd largest working population 522 Mn with median age - 28 years
3rd largest startup ecosystem
107 Unicorns with valuation over USD 340 Bn
Towards Net Zero
4th largest producer of RE / Solar Power, to unlock USD 1 Tn investment in solar in India by 2030
INDIA - A GLOBAL TEXTILE HUB
2.3%
CONTRIBUTION OF TEXTILES TO INDIA’S GDP
3rd
LARGEST EXPORTER OF TEXTILE & APPAREL IN THE WORLD
USD 154 Bn
INDIA’S TEXTILE & APPAREL MARKET USD $ 110 Bn DOMESTIC MARKET USD $ 44 Bn EXPORTS
5% CAGR
AVERAGE INDUSTRY GROWTH RATE
USD 350 Bn
PROJECTED MARKET SHARE BY 2030
4.5%
SHARE IN THE GLOBAL TEXTILE & APPAREL TRADE
2X
GROWTH IN SECTOR FDI SINCE 2014-15 (2.7 Bn IN 2014-2022)
9746
Mn KG YARN PER YEAR
47,000
Mn MTRS FABRIC PER YEAR
22,000
Mn PCS GARMENT PER YEAR
2nd
LARGEST EMPLOYER AFTER AGRICULTURE - 45 Mn WORKFORCE 70% POWERED BY WOMEN
2nd
LARGEST PRODUCER OF COTTON, POLYESTER, VISCOSE & SILK
5th LARGEST PRODUCER OF TECHNICAL TEXTILES - MARKET SIZE OF USD 22 Bn
PROACTIVE POLICY SUPPORT FROM UNION AS WELL AS STATE GOVERNMENTS
COMPETITIVE COST OF MANUFACTURING ECOSYSTEM
PRESENCE ACROSS COMPLETE TEXTILE VALUE CHAIN
Supportive Policy Ecosystem
Underpinned by government initiatives that propel the industry toward a prosperous and sustainable tomorrow; The Indian textile sector stands ready to weave a narrative of creativity, resilience, and economic vibrancy in the years to come.
Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) Parks Scheme
Creating an Integrated Textiles Value Chain
7 mega textile parks with an expected investment of USD 10 Bn are being set up with world class infrastructure, plug and play facilities and an integrated ecosystem
Production Linked Incentive (PLI) Scheme
Boosting manufacturing of MMF fabrics, Apparel & Technical Textiles
Production Linked Incentive (PLI) Scheme with approved incentives of INR 10,683 crore (~USD 1 Bn) to promote production of MMF Apparel, MMF Fabrics and Products of Technical Textiles
Samarth
Building Capacity, addressing skill gaps in the textile value chain
The scheme is a demand-driven and placement-oriented program across the textiles value chain. In addition, various States have their own skilling/training support schemes
National Technical Textile Mission
Promoting Technical textiles- towards USD 300 Bn by 2047
National mission to support and promote Research, Innovation & Development, Education Training, Skill development and Market Development in Technical Textiles
Liberal State Policies
Generous support and incentives by State Governments / Union Territories - Capital support, wage & skilling incentives, power and water support