Modern Era of Textile Industry

Abstract

It could well be considered the beginning of the modern Era for the Indian textile industry.  The current year and beyond promises to be an excellent period of growth for the industry. In our recent interaction with industry leaders, a sense of optimism and confidence was quite evident. The Government is expected to announce its new textile policy with an ambitious target of achieving 20 per cent share of the global textile trade and helping the domestic industry attain a size of $650 billion by 2024-25 by focusing on investments, skill development and labour law reforms. The policy blueprint, termed the ‘Vision, Strategy and Action Plan’ for the textiles and apparel industry, lays thrust upon diversification of exports through new products and markets along with increasing value addition and promoting innovation and R&D activities.

Key words : Export, Investment, Growth, Infrastructure, Manufacturing, Products.