India’s Textile Exports is Reported to Grow at 9% in the Coming Years

The textile industry is one of the largest markets and around the globe. It is concerned with production of resourceful products fit for human use out of natural raw materials. The main purpose of this industry is creating materials for clothing, enshrouding furniture & home textiles and so on. The textile industry happens to be the second largest employer of human resources in India, creating a number of job opportunities at high and mid levels, to both the educated and uneducated sections of people. The sector is reported to have contributed about 15% to industrial production, 18% of the country’s earnings by export and 6% of the Gross Domestic Product (GDP) of the country.

The various fragments of home textiles are bed linen and bath linen which are said to contribute to two-thirds of the total market size. The rest of the market constitutes of rugs, carpets, kitchen linen, sofa and other furniture covers. This market is dominated by the unorganized sector. Only around 15% of the sector are organized, which in turn has led to a number of job opportunities for all sections of people.

Some well known brands relating to textile production and retail sales are Bombay Dyeing, Pantaloons, Westside, Shoppers stop, Max and Reliance Trends. A few factors for the growth of the textile industry are the number of growing households and incomes simultaneously, and growth of end-use sectors like housing, office, hospitality and healthcare that consume textiles at a large scale.

The export of textiles has been going on for decades ago. India alone exports its textiles to an average of a hundred countries. The majority of its textiles is exported to the European countries and the United States which consists of 60% of its textile exports. In the next 3 years, 45% of the total revenue of the textile industry is expected from these two countries. The other countries that Indian textile is exported to be Japan, Korea, Bangladesh, Canada, The United Arab Emirates, Saudi Arabia to name a few. The domestic sector itself constituted of 35%. India’s textile and clothing export are reported to grow at 9% in the coming few years by which it can be benefited unlike its rival exporters of the world. It is the second largest exporter after China but has insignificantly contributed to the growth of the textile industry market.

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