INDIAN TEXTILE INDUSTRY: Trend and Future …

1 INDIAN TEXTILE INDUSTRY: Trend and Future directionIntroduction Thetextilesindustryhasmadeamajorcontribu tiontothenationaleconomyintermsofnetfore ignexchangeearningsandcontributiontotheG DP. ,thegrowthandallrounddevelopmentofthisin dustryhasadirectbearingontheimprovemento fIndia'seconomy. TextilesexportsfromIndiawilltouchUS$ Export , Growth in exports of certain segments were high such as handicrafts (17%), carpets (15%) and ready made garments (12%), textiles Export Indiahasashareofapproximately5% %iCotton Fibre9%iiCotton Yarn, Fabrics and Made ups23%iiiMan-made Textiles14%ivGarments39%vHandlooms & Handicrafts11%viOthers4%Projections for India in World Exports YearWorld textiles Exports($ Billion)India's Exports($ billion) for Domestic textiles IndustryYearDomestic Industry ($ Billion) Availabilityoflowcostandskilledmanpowerp rovidescompetitiveadvantagetoindustry.

2 Availabilityoflargevarietiesofcottonfibr eandhasafastgrowingsyntheticfibreindustr y. Indiaisoneofthelargestexportersofyarnini nternationalmarket. Growingeconomyandpotentialdomesticandint ernationalmarket. Emergingretailindustryandmalls. Eliminationofquotarestrictionleadstogrea termarket. Growthrateofdomestictextileindustry. Shiftingtowardsbrandedreadymadegarment. ,Chinesetextilesmanufacturershavelostcom petitiveadvantagesoflowercostofproductio ninthelastfewmonths. ThishasofferedanopportunityforIndiantext ilessectortograbthemarketshareofChinaint hedevelopedworld,especiallytheEuropeanUn ionandtheUnitedStates, 2024-25 TheIndiantextileindustryhasstrengthacros stheentirevaluechain. Itsshareinthenation sGDPis6%and13% slevel.

3 TheChineseshareinglobalexportsis39%. 2024-25 Takinginnovativemeasuresinpartnershipwit htheindustryandlearningfromexperience,In diacouldaspiretoachieve20% Inthedomesticmarket,sustaininganannualgr owthrateof12%shouldalsonotbedifficult. Thisimpliesthatwitha12%CAGR indomesticsalestheindustryshouldreachapr oductionlevelofUS$350billionby2024-25fro mthecurrentlevelofaboutUS$ Of India Initiatives TheGovernmentofIndiahasstartedpromotiono fits IndiaHandloom initiativeonsocialmedialikeFacebook,Twit terandInstagramwithaviewtoconnectwithcus tomers,especiallyyouth,inordertopromoteh ighqualityhandloomproductsasIndiaHandloo mBrand. NationalTextilesPolicyaimsatcreating35mi llionnewjobsbywayofincreasedinvestmentsb yforeigncompanies(expectedtobe180-200bil lionUS$).

4 Government Of India Initiatives TheMinistryofTextileslaunchedTechnologyM issiononTechnicalTextiles(TMTT),Theobjec tiveofTMTT istopromotetechnicaltextilesbyhelpingtod evelopworldclasstestingfacilitiesateight CentresofExcellenceacrossIndia,promoting indigenousdevelopmentofprototypes,provid ingsupportfordomesticandexportmarketdeve lopmentandencouragingcontractresearch. TheMinistryofTextileshasapproveda'Scheme forpromotingusageofgeotechnicaltextilesi nNorthEastRegion(NER)' (US$ ) textiles Technicaltextilesisamongthemostpromising andfastestgrowingareasofIndiantextilesin dustry. Thetechnicaltextilesectorhasdemonstrated encouraginggrowthtrendsinIndiawithaCAGRo f8%forthelastfewyearsithasreachedasizeof $13billion. ThesectorisexpectedtoshowaCAGRof16%torea ch$ textiles Globally, , ,roadsandhighways,agriculture, Of India Initiatives TheRevisedRestructuredTechnologyUpgradat ionFundScheme(RRTUFS)coversmanufacturing ofmajormachineryfortechnicaltextilesfor5 percentinterestreimbursementand10percent capitalsubsidyinadditionto5percentintere streimbursementalsoprovidedtothespecifie dtechnicaltextilemachineryunderRRTUFS.

5 UndertheSchemeforIntegratedTextileParks( SITP),theGovernmentofIndiaprovidesassist anceforcreationofinfrastructureinthepark stotheextentof40percentwithalimituptoRs4 0crore(US$6million). Of India Initiatives ,Handicrafts,Handlooms,JuteandSericultur e. Of India Initiatives UndertheMakeinIndiainitiative,investment opportunitiesforforeigncompaniesandentre preneursareavailableacrosstheentirevalue chainofsynthetics,value-addedandspeciali tyfabrics,fabricprocessingset-upsforallk indsofnaturalandsynthetictextiles,techni caltextiles,garments,andretailbrands. ;andapparelretailerslikeZaraandMango(bot hfromSpain),Promod(France),Benetton(Ital y), Of India Initiatives Governmenthasundertakenanumberofstepstoi mproveEaseofDoingBusinessinIndia,tofunct ionassinglewindowforobtaininggovernmentc learances.

6 Thegovernmenthasalsoproposedtoextend24 -Way forward Sustainabilitytodayhasbecomeanecessitydr ivenbyconsumerawarenessandpreferencefors ustainableproducts,compliancenorms,andar ealisationthattosecurethefutureitisimpor tanttoacttoday. Lifecycleapproachtosustainabilityintexti leandapparelindustryentailsensuringtheth reefacetsofsustainability social,economicandenvironmental. Companiesneedtodiscovernewideastosustain inasituationwithlesseravailabilityofnatu ralresources. -Way forwardThank you