Textile Industry & Market Growth in India

India is the second largest textile and clothing exporter in the world, with a total exports of US$ 44.4 billion in FY22.

Advantage India

Robust
Demand

* Cotton production in India is projected to reach 7.2 million tonnes (~43 million bales of 170 kg each) by 2030, driven by increasing demand from consumers.

* India’s textile and apparel exports (including handicrafts) stood at US$ 44.4 billion in FY22, a 41% increase YoY. Exports of readymade garments including cotton accessories stood at US$ 6.19 billion in FY22.

Competitive
Advantage

* India enjoys a comparative advantage in terms of skilled manpower and in cost of production, relative to major textile producers.

* In June 2022, Minister of Textiles, Commerce and Industry, Consumer Affairs & Food and Public Distribution, Mr. Piyush Goyal, stated that the Indian government wants to establish 75 textile hubs in the country.

Policy
support

* 100% FDI (automatic route) is allowed in textiles.

* Production-linked Incentive (PLI) Scheme worth Rs. 10,683 crore (US$ 1.44 billion) for manmade fibre and technical textiles over a five-year period.

* The Indian government has notified uniform goods and services tax rate at 12% on man-made fabrics (MMF), MMF yarns and apparel, which came into effect from January 1, 2022.

Increasing
Investments

* Huge funds in schemes such as Rs. 900 crore (US$ 109.99 million) for Amended Technology Upgradation Fund Scheme (ATUFS) have been released by the Government in the union budget of 2023-24 to encourage more private equity investments and provide employment.

Snapshot Showcase Infographics Reports

Last updated: May, 2023

Sutlej Textiles

Sutlej Textiles & Industries Ltd (STIL) is a leading producer of value-added yarns in India. Since inception. the company has been committed to achieving high growth through development of niche products to meet the increasingly sophisticated demands of the Industry. Today, it has the largest product portfolio of spun-dyed, cotton blended and cotton melange dyed yarns. Sutlej is the largest producer of melange yarn in India and one of the few exclusive spinners for specialty yarns such as modal, lyocell and tencel in the country.

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ARVIND LIMITED

Arvind Limited’s principal products/services are finished fabrics and garments. Its segments are textiles, brands, retail, and others. The textiles segment includes fabric, yarn, and garments. The brands and retail segment include retailing of branded garments, apparels, and fabrics. The others segment includes technical textile, e-commerce, and project activity. It also manufactures cotton shirting, denim, knits, and bottom weights (Khakis) fabrics, and jeans and shirts garments. The Company, through its subsidiary, Arvind Lifestyle Brands Limited, markets branded apparel and licenses international brands in India. Its brands portfolio includes international brands, such as Arrow, US Polo, Izod, Elle and Cherokee. It also operates MEGAMART apparel value retail stores. It also has presence in telecom business directly and through joint venture companies.

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Vardhman Textiles

Vardhman Textiles Limited is an integrated textile manufacturer. The company is engaged in the manufacturing of cotton yarn, synthetic yarn, woven fabric, sewing thread, acrylic fibre, tow, and garments. The company's segments include textiles and fibre. The company is a piece dyed fabric manufacturer, and cotton yarn manufacturer and exporter. It offers the range of specialized greige and dyed yarns in cotton, polyester, acrylic and a range of blends. The company also manufactures products, such as organic cotton, melange, core spun yarns, ultra yarns (contamination controlled), gassed mercerised, super fine yarns, slub and cellulose yarns and fancy yarns for hand knitting. The company has approximately 1.1 million spindles and a capacity to manufacture over 580 metric ton (MT) of yarn per day. The company has manufacturing facilities located in Punjab, Himachal Pradesh, and Madhya Pradesh. The company markets its products in the European Union, the United States, and the far East.

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