MARKET RESEARCH
sashasethi12
researchfinal.docx· Textile Industry
· https://www.ibef.org/industry/textiles.aspx
· https://www.ibef.org/download/Textiles-and-Apparel-February-2018.pdf
· Potential Market Size
· The domestic textile industry in India is projected to reach US$ 250 billion by 2019 from US$ 150 billion in July 2017.
· The textile industry in India is among the oldest industries in the region’s economy. It is still one of the biggest contributors to the exports that the country is making.
· There is a promising future in the industry driven by strong export demand and domestic consumption. The retail sector of this industry is witnessing a rapid growth because of the rising consumerism and disposable income
· it contributes to approximately 13% of the total exports.
· this industry has become one of the largest employers in the region since it is a labor-intensive industry.
· The textile industry has two broad segments.
· First, the unorganized sector consists of handloom, handicrafts and sericulture, which are operated on a small scale and through traditional tools and methods.
· The second is the organized sector consisting of spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale.
· The Indian textiles industry is extremely varied, with the hand-spun and hand-woven textiles sectors at one end of the spectrum, while the capital intensive sophisticated mills sector at the other end of the spectrum.
· The decentralized power looms/ hosiery and knitting sector form the largest component of the textiles sector.
· The close linkage of the textile industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles make the Indian textiles sector unique in comparison to the industries of other countries.
· The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world.
· Potential Growth (size and factors)
· Textile plays a major role in the Indian economy
· It contributes 14 per cent to industrial production and 4 per cent to GDP
· With over 45 million people, the industry is one of the largest source of employment generation in the country
· The industry accounts for nearly 15 per cent of total exports
· The size of India’s textile market in 2016 was around US$ 137 billion, which is expected to touch US$ 226 billion market by 2023, growing at a CAGR of 8.7 per cent between 2009-23E
· As of June 2017, the central government is planning to finalize and launch the new textile policy in the next three months. The policy aims to achieve US$ 300 billion worth of textile exports by 2024-25 and create an additional 35 million job
· During the last five years, the textile industry has been having a spurt in investment. The printed and dyed industries together with this industry have attracted the Foreign Direct Investment amounting to 2.68 billion US dollars during the period from April 2000 and September 2017.
