Domestic demand to drive textile sector growth in FY24: CRISIL SME Tracker
- IBEF
- March 31, 2023
The textiles industry is expected to experience moderate revenue growth in 2023–2024 (FY24), with domestic demand growing steadily. The small and medium-sized businesses (SMEs), account for about 75% of the value chain in the textile industry and are anticipated to have a strong revenue and profit growth in FY22 as a result of a post-pandemic boom in exports.
Clusters that rely more on the domestic market, such as Kolkata, Kanchipuram, and Ludhiana, are likely to outperform export-centric clusters.
Although operational profit margins shrank in FY23, players' profitability is anticipated to increase as input cost pressure eases.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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