4 September2022Editor NoteThe Indian Textiles & Apparel Market is weaving a Robust Growth StoryIt is said that in India, language and clothing changes with every few steps. With such rich diversity in culture, language and way of life, there also exist a vast array of indigenous textile. The intricate chikankari found in Lucknow, the bold Bandhni prints from Rajasthan, the delicate Pashmina from Kashmir or the luxe beauty of Kanjivaram silk from the south, India is the mecca of exquisite apparel and textile. India is also a thriving producer of textile and garments. The Indian textile market is the second largest in the world and the fifth largest in terms of export. The underlying strength of India's robust textile industry is the agile production base of various fibre/yarns such as cotton, jute, wool, silk, polyester, nylon to name a few. The industry is not only made up of large mills or production houses but is home to a plethora of talented artisans who are self-employed. The entire industry combined employs close to 4.5 crore people including 35.22 lakh handloom workers. Hailing mostly from rural regions from the most far-flung pockets of the country, these artisans are the true vessels taking forward India's rich textile heritage. These artisans working in the small-scale industry find support in various government schemes such as MGNREGA, rural cooperatives and NGOs.Built on the back of talented artisans and visionary business leaders, the Indian textile industry has grown tremendously. In 2019 the Indian textile and apparel industry was worth $100 billion. The industry produced 63.34 billion square meters in cloth in 2020. Growing beyond the Indian market, India is now the second largest exporter of textiles and clothing in the world. The Ministry of Textiles stated that in FY 22, India recorded the highest-ever textiles and apparel exports at $44.4 billion. This was an increase of 41 percent from last year and 26 percent over the year before. The indigenous market itself witnesses great demand. Reports suggest that the Indian apparel market is slated to experience growth in demand at 12 percent CAGR to reach $220 billion by 2025-26.With a strong demand coming from within the country and internationally too, the Indian textiles market is gearing towards unparalleled growth. Business leaders in the textile and apparel market must hit the nail on the head to make hay while the sun shines. Read on and do let us know your thoughts. Rachita SharmaManaging Editor
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