The onset of good monsoon and Government initiatives, the domestic textile market may grow by 7-8 percent, which was estimated at USD 60 billion in FY17, said Confederation of IndianTextile Industry (CITI) Chairman Naishadh Parikh.
While, the textiles exports, estimated at USD 40 billion, is likely to expand by 5-8 percent this fiscal.
Parikh, welcoming the new Textiles Minister Smriti Irani, said that the appointment of a dynamic, progressive and result-oriented Cabinet Minister like Irani comes at an opportune time when the industry is poised to turn “Make in India†into a reality.
The apex chamber of textiles in India hoped the industry will achieve the ambitious goal of creating 5 crore jobs in the next few years. Also the recent initiative announced by Government should further strengthen the textile value chain.
India is the second fully integrated textile value chain, next only to China, and industry is looking forward to initiatives to further bolster the sector in view of large investments taking place in Bangladesh and Vietnam towards verticalization of the industry.
AbTF strengthened its work on sustainably verified natural fibers in 2025, continuing to expand its programs despite challenges across global…
A new UK-funded clean energy project is set to begin in Pakistan, with the aim of converting cotton and other…
Researchers are investigating whether microorganisms can help improve desert sand conditions and make them more suitable for agriculture while using…
Woolchemy and Lenzing are collaborating on a new ADL for hygiene products that combines New Zealand wool with wood-based VEOCEL…
Researchers in Finland have developed a leather-like material made from mushroom mycelium, the network of fine fibres that grows beneath…
The UAE has partnered with the Ellen MacArthur Foundation to support the development of policies aimed at making the country’s…