Advantage India
Robust
Demand
*In FY24, exports of readymade garments including accessories stood at US$ 14.23 billion.
*Cotton production in India is projected to reach 7.2 million tonnes by 2030, driven by increasing demand from consumers.
*The market for Indian textiles and apparel is projected to grow at a 10% CAGR to reach US$ 350 billion by 2030, with exports expected to reach US$100 billion.
*India’s textile and apparel exports (including handicrafts) stood at US$ 28.72 billion in FY24 (April-January 2024)
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.
*1,83,844 beneficiaries trained across 1,880 centers under Samarth.
Increasing
Investments
*In June 2023, Government approved R&D projects worth US$ 7.4 million (Rs. 61.09 crore) in textile sector.
*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.
*Total FDI inflows in the textiles sector stood at US$ 4.47 billion between April 2000- March 2024.
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.
Read MoreVardhman 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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MOREMajor Textiles hubs in India
- NCR
- Gujarat
- Maharashtra
- Uttar Pradesh
- West Bengal
- Tamil Nadu
- Madhya Pradesh
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