• Textile Industry is poised well in the wake of China +1 strategy. Government of India (GoI) aims to develop the industry to $300 billion from current level of $75 Billion by 2025-26.
  • Remarkable turnaround in Technical Textiles – from a net importer, India becomes net exporter in the sector.
  • Textile exports plummeted mainly due to the globally synchronized slowdown triggered by the pandemic
  • Government initiatives in the domains of technical textiles, khadi promotion and textile parks likely to bode well
  • Emerging risks of low performance and high prices along with GST issues and other industry risks need to be swiftly addressed by coordinated measures.

After being hit hard by COVID, India’s textile industry is well on course on the road to recovery. During the pandemic, the domestic textiles and apparels industry slumped to US $75 billion after peaking at US$ 106 billion in FY2020. However, government initiatives to bolster the sector have raised hopes of the sector growing to $300 billion by 2025-26, a growth of 300% in next 2 years.