Published on April 25, 2018
Indian textiles sector is one of the oldest industry in Indian economy. The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, within India and across the world. Currently the Indian textiles industry estimated at around US$ 120 billion and is expected to reach US$ 230 billion by 2020.
As per report, Government of India has approved a new skill development scheme named 'Scheme for Capacity Building in Textile Sector ' with an outlay of Rs 1,300 crore from 2017-18 to 2019-20.
Max Fashion, a part of Dubai based Landmark Group, plans to expand its sales network to 400 stores in 120 cities by investing Rs 400 crore in the next 4 years.
The Textile Ministry of India allocated Rs 690 crore for setting up 21 ready made garment manufacturing units in seven states for development and modernization of Indian Textile Sector.
Market analyst said that, The upcoming outlook for the Indian textile industry looks shows potential with strong domestic consumption and export demand. The Indian cotton textile industry is anticipated to show a even augmentation in FY2017-18, with stable input prices, healthy capacity utilization and steady domestic demand.
