The global textile industry is growing at a CAGR of five per cent. The textile industry encompasses the production and sale of materials such as cotton, yarn, fiber and finished products or apparels. China, Japan, India and United States dominate the global textile industry.

China is the leading textile manufacturing country and is worth about a fourth of the global textile industry with an export value of more than a 100 billion dollars. China’s textile exports went up by three per cent in 2018. The textile industry of the European Union has Germany, Spain, France, Italy and Portugal in the forefront with a value of more than one-fifths of the global textile industry. India is the third largest textile manufacturing industry and holds an export value of more than $30 billion. India is responsible for more than six per cent of the total textile production globally and is valued at approximately $150 billion. India is followed by the United States in the exports of textiles. The United States has now become one of the largest consumers of textiles, being responsible for almost 75 per cent of total textile imports.

The Brexit deal might bring about a lot of uncertainty in the global textile industry.