Indian textile market to see strong growth with the government support

Related Keywords: cotton, domestic consumption, export demand, FDI limit, garment, Indian textile market, jute, promotiona visit, raw material, silk, sourcing hub, Textile, wool

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Indian textile market to see strong growth with the government support
The textile market in India to see strong growth which will be further sustained by improved domestic consumption as well as increased export demand due to the abundant availability of raw materials, especially silk, jute, cotton and wool. Moreover, the industry growth has been driven by the presence of skilled workforce in the country which has made it one of the major sourcing hubs and the world’s second-largest producer of textiles and garments.

Textile & Apparel sector in India is an important contributor to the national economy in terms of direct and indirect employment generation and net foreign exchange earnings, contributing 4% to India’s GDP in 2012, the sector has also attracted direct foreign investments worth USD 1.11 billion from April 2000 to February 2014.
Currently, the overall textile and apparel sector accounts for about 24% of world’s spindle capacity and 8% of global rotor capacity and is expected to touch USD 223 billion by 2021.
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