India is the fifth largest apparel market globally and is expected to grow at a CAGR of 8% by 2023.
The Textile industry contributes approximately 4% to India’s Gross Domestic Product (GDP) and approx. 14 % to the overall Index of Industrial Production (IIP). The textile industry is the second largest employer in India after agriculture. It is also one of the most important sectors in terms of exports, foreign exchange earnings and manufacturing of goods.
This report provides an analysis and evaluation of the global economy and the global textile &apparel industry and highlights major trends in the global textile & apparel market. The report also talks about how India is seen as one of the key consumer markets from where future growth is likely to emerge. It covers the major challenges faced by the Indian Textile industry and also shares the recommendations for faster growth of the Textile & Apparel Industry.
The report was unveiled at Texcon 2019 on 4th November 2019 at New Delhi.