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Good times ahead for Indian textiles and apparel sector

The Indian textile and clothing industry is set to grow substantially in the coming years. Growth will be driven by strong expansion of the domestic market as well as higher exports, aided by incentives and support policies. The textile policy has the aim of securing a substantial increase in exports by 2024-25 and generating 35 million new jobs, most of which would be taken by women.

‘Make in India’ initiative is aimed at transforming the country into a global manufacturing hub with the support of foreign manufacturers. India became the world’s leading recipient of FDI in 2015 — ahead even of China and the United States. Foreign investors have been attracted by India's sizeable and fast growing domestic market.

India's domestic market for textiles and clothing is forecast to growth 14 per cent per annum over a 12-year period — as a result of rising prosperity and a continuously growing population. High profile brands, including Aéropostale, Gap, H&M and Massimo Dutti, have entered the Indian market in recent years. Also global up market and luxury brands are looking to use the country as a base for manufacturing and supplying worldwide markets as well as supplying high income and middle income consumers in India itself.

 
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