TEXCON2012: New Paradigms for Textiles Industry - Policy, Competitiveness and Domestic Market
Report prepared by Wazir Advisors, Knowledge Partner of 'Texcon 2012' organized by the Confederation of Indian Industry (CII), Northern Region
Executive Summary
Indian Textile and Apparel industry is the second largest manufacturer in the world with an estimated export value of ~ US$ 34 billion and domestic consumption of ~US$ 57 billion.
The sector contributes to about 6% of the US$1.7 trillion Indian economy. It also provides employment to ~35 million persons directly & ~55 million persons indirectly.
India is among the very few countries which have a presence across the entire supply chain, from natural and synthetic fibers right up to finished goods manufacturing.It has presence in organized mill sector as well as decentralized sectors likehandloom, power loom, silk, etc.
The total Indian consumption of textiles and apparel is estimated at -US$ 57billion (apparel retail contributes - US$ 40 billion, technical textiles contributes ~ US$ 13 billion and home textiles contributes - US$ 4 billion).
Itis expected to reach -US $ 100 billion by 2016 growing at a compounded annual rate of 12%. Along with this, the exports have grown from US$ 19 billion to US$34 billion in past 6 years at a CAGR of 12%.
This article was originally published in the "New Cloth Market" magazine, August, 2012.
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