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An Introduction:

It is common knowledge that Textile and Apparel Sector in India is immensely important. It is one of our country's most important manufacturing industries. The textile industry has had above-average growth. Textile and Apparel Sector in India is thriving, thanks to both home and foreign demand. This sector also employs over 35 million people across its supply chain, making it India's fourth largest employer.

India might become one of the top three textile exporters, according to ASSOCHAM forecasts. It's no surprise that investors are interested in the fast-growing textiles and clothing business in India.

Textile production accounts for 7.2 percent of total industrial output. It directly or indirectly employs around 20 million people, one-third of whom are women. Fabrics, made-ups, leather garments, carpets, cotton yarns, and readymade clothes are all exported from India. Woolen carpets are among the export commodities, with destinations including the United Arab Emirates and Russia.

More than 500 Export Promotion Councils (EPC) operate in various districts of India, providing assistance to Indian exporters. The United States, the United Kingdom, Germany, Japan, and Italy are the most important markets for Indian textiles and apparel.

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Textiles and Apparel Sector in India:

India is one of the world's top textile and apparel producers.

India's domestic Textiles and Apparel Sector generates 5% of GDP, 7% of industry output in value terms, and 12% of export revenues. India is the world's sixth largest exporter of textiles and apparel.

India is one of the world's leading producers of cotton and jute . India is also the world's second largest producer of silk, accounting for 95 percent of all hand-woven cloth. The Indian technical textiles market is about $16 billion, or around 6% of the global market.

The textiles and garment business in India is the country's second largest employer, employing 45 million people directly and another 100 million indirectly.

India is now the world's second-largest producer of personal protective equipment . Today, more than 600 Indian businesses are qualified to manufacture personal protective equipment, with a global market worth of more than $92.5 billion by 2025, up from $52.7 billion in 2019.

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? India's textile and clothing exports are forecast to surpass $100 billion in the next five years, rising at an 11 percent compound annual growth rate (CAGR).

? Seven mega textile parks have been planned to increase the size of the Indian textile and apparel sector to $190 billion by 2025-26.

? The Indian technical textiles market was estimated at $17.6 billion in 2020-21, growing at a CAGR of 10% since 2015-16.

? The domestic technical textile market for synthetic polymer was valued at $7.1 billion in 2020 and is expected to grow at a CAGR of 7.2 percent to $11.6 billion by 2027, up from $9.5 billion in 2020, while the technical textile market for wovens is expected to grow at a CAGR of 7.4 percent to $15.7 billion by 2027, up from $9.5 billion in 2020.

? India's textile and apparel trade accounts for 4% of global trade.

For further details, please refer FDI Policy

Data Analysis and Trends

Textile and Apparel Sector in India is a Booming Industry that is expected to double in size over the next five years as both online and physical sales increase at unprecedented rates. The industry has a large employment potential, with over 20 million people employed directly or indirectly; direct employees account for only 10% of total employment, with indirect occupations accounting for 90%. Investing in textile manufacturing enterprises is an exciting time!

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Investments in Textiles and Apparel Sector in India:

Due to increasing demand for its products in both domestic and international markets, the Textile and Apparel Sector in India has seen significant growth throughout time. The Indian government is working on fostering this sector's growth and development through a variety of programmes, including financial aid for new projects under JnNURM (Jawaharlal Nehru National Urban Renewal Mission).

There are other programmes like NEN (National Export Initiative) that promote SMEs (small and medium companies) in certain industries to export. With the government's attempts to promote the 'Make in India' campaign by offering incentives for manufacturing facilities located within special economic zones, it is projected that investments in the textile sector will grow even more.

Furthermore, there has been a surge in FDI (foreign direct investment) inflows into the textiles and apparels sectors in recent years. FDI inflows in these sectors were US$ 1.9 billion, according to the DIPP (Department of Industrial Policy and Promotion). Some large multinational corporations have recently declared plans to invest extensively in India's textile industries.

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Industry Scenario

From $103.4 billion in 2020-21, the textile and apparel industry is predicted to grow to $190 billion by 2025-26.

Textile and Apparel Sector in India is strong throughout the value chain, from fibre to yarn to fabric to clothes. The Indian textile and clothing business is immensely diversified, with segments ranging from traditional handloom, handicrafts, wool, and silk products to India's organised textile industry. Spinning, weaving, processing, and clothing manufacture are all part of India's organised textile industry, which is defined by the use of capital-intensive equipment for mass production of textile items.

In 2019-20, the domestic textiles and clothing industry generated $108.5 billion, with $75 billion used domestically and $28.4 billion exported to the global market.

From April 2016 to March 2021, Japan, Mauritius, Italy, and Belgium were the top donors of FDI in India's textile sector (including dyed and printed textiles). Cotton farming employs 5.8 million farmers and 40 to 50 million workers in related industries. Furthermore, the $75 billion in domestic consumption was split into three categories: clothes ($55 billion), technical textiles ($15 billion), and home goods ($5 billion). Exports included $12 billion in garments, $4.8 billion in home textiles, $4 billion in fabric, $3.8 billion in yarn, $1.8 billion in fibre, and $2 billion in other items.

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·????????Cotton Yarn/Fabrics/Made ups, Handloom Products, and Other Exports were valued at $1297.82 billion in August 2021, up 55.62 percent from $833.95 billion in August 2020.

·????????RMG of All Textiles exports were valued at $1235.11 billion in August 2021, up 13.99 percent from exports of $1083.53 billion in August 2020.

·????????Textiles and Apparel exports totaled $ 30449.85 million from April to December 2021, up 52 percent from the same period in 2020.

·????????On the Government-e-Marketplace, 1,77,825 weavers and artisans have registered (GeM).

Opportunities for Investors:

More than 80% of Indians do not wear branded clothing. Only around 20% of everything we eat is branded. Which means there's plenty of space for expansion, particularly in mass-market clothes companies—those that make items in large quantities at inexpensive rates. India's textile sector is one of Asia's largest, second only to China globally. It employs more than 100 million people directly or indirectly and accounts for 7% of India's GDP.

Over the last decade, it has expanded at a pace of 5% per year on average, and it is likely to develop even faster in the next years. It also provides enormous investment and employment prospects.

In India , there are currently only 1,000 brands in operation; nevertheless, given the country's large population, there is still a long way to go before every man, woman, and kid is dressed in locally manufactured textiles. As a result, investors can expect returns ranging from 3 percent to 8%.

If you have extra cash, investing in Indian textiles can be a good idea. You might either build your own manufacturing facilities or recruit local partners who already have them. You can invest in retail outlets and ecommerce portals that offer these products even if you don't intend to invest in production. In any case, you should conduct research to determine which locations are expanding the fastest so that you can effectively target your investments.

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Growth Drivers

·????????Large and increasing local market

·????????Abundance of raw materials

·????????Presence of whole value chains

·????????Competitive production prices

·????????Availability of competent people

·????????Rising per capita income, increased discretionary money, and brand preferences

·????????E-Commerce and a well-organized retail landscape

·????????Production-Linked Incentive (PLI) Scheme in Man-made Fiber and Technical Textiles with a financial outlay of INR 10,683 crore under Atmanirbhar Bharat package

·????????Increased focus on technical textiles due to growth of end-user industries such as automotive, healthcare, infrastructure, and oil and petroleum.

Production Linked Incentive (PLI) Scheme

The Union Cabinet, led by Prime Minister Shri Narendra Modi, has approved the introduction of the Production-Linked Incentive (PLI) Scheme in Textiles Products for Improving India's Manufacturing Capabilities and Exports – Atmanirbhar Bharat.

1. Out of 67 applications received, 61 applicants were approved under the Production Linked Incentive (PLI) Scheme for Textiles.

2. The government abolishes cotton import duties.

3. The scheme is divided into two parts: Part 1, which requires a minimum investment of INR 300 crore and a minimum turnover of INR 600 crore to qualify for the incentive; and Part 2, which requires a minimum investment of INR 100 crore and a minimum turnover of INR 200 crore to qualify for the incentive.

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Industry Trends

·????????Combination of exclusive brand stores with multi-brand outlets for branded clothing

·????????Medical textiles , agrotextiles, geotextiles , and protective garments are examples of technical textiles.

·????????Man-Made Carpets, conveyor belts, and materials resistant to fire

·????????Textile Equipment Spinning, knitting, weaving, and processing are examples of manufacturing segments.

·????????Technology: Technical textiles are a huge and developing market at the moment. Countries are renovating mills and facilities and hiring new employees to work on cutting-edge technologies such as 3D printed clothing and shoes, as well as smart fabrics containing little chips that act as conductors and energy converters.

·????????Nonwoven Fabrics: Nonwoven fabrics can now be pursued thanks to new technologies. Non-wovens are materials that are pressed together instead of woven. This is advantageous since the labour is less intensive, allowing the product to be created faster and for less money. Nonwoven fabrics are also extremely hygienic, which is ideal for the medical business, which accounts for a significant portion of the textile industry.

·????????Domestic Sales: Countries such as China and the United States are focused on domestic sales as well as international sales. Domestic product development and marketing to local populations opens up a new and larger market for countries who are often focused on international markets.

·????????Environmental Sustainability: Due to the extensive use of water, air pollution, and waste concerns, the textile industry has become a major environmental challenge. Many countries have begun to place a strong emphasis on green fabrics. Clothing made from leftover coffee grounds, algae, or soured milk is one of the latest developments. These novel textiles are distinctive and gaining traction in the market.