The global textile industry has undergone a sea change over the last half decade, with a clear shift towards the Asian countries. As China continues to maintain a pre-dominant position, being far ahead of its nearest competitors, competition is beginning to emerge from smaller players such as Bangladesh, Vietnam and Philippines. India currently stands as the second largest manufacturer and exporter of textiles, made ups and garments. The sector brings to the table an array of strengths, including a presence at every step of the value chain. With textile hubs located across the country, and State Governments offering incentives and requisite infrastructure to give a boost to the sector, India may well achieve the US$ 300 billion industry size by 2030, a realisation of the Government of India's target industry size of US$ 300 by 2025.
This Vision Document - Weaving a new Textile Sector for India outlines short term, medium term and long term action plans for the industry to harness the global opportunities, while contributing to the national priorities of creating jobs, improving the human development index, developing a vibrant manufacturing sector and urbanizing rural India.
The report defines a holistic approach for the sector to become vibrant and robust. Adopting manufacturing excellence practices and becoming future ready to harness the potential by addressing emerging trends, India can set the pace towards becoming a global leader.
It was unveiled at the OECD Forum on Due Diligence in the Garment and Footwear Sector 2019 held from 12 - 14 February 2019 in Paris.