Top 10 Reasons to Invest in India's Textile Industry

Top 10 Reasons to Invest in India's Textile Industry Since ancient times, India has been known throughout the world for its thin and strong fabrics.

Indian textile production began several hundred years ago. During the Industrial Revolution, European industry relied heavily on the Indian textile industry. In the late 17th and 18th centuries, India was the only country responsible for meeting the cotton needs of European countries The Indian clothing industry is the second largest in the world after China. India is a major producer of cotton and hemp. India is the second largest producer of polyester, silk, clothing and protective materials. The Indian garment industry accounts for 17% of exports.

There has been a lot of investment in the Indian garment industry in recent years. Increased demand for Indian textile trade, political support and foreign investment will reach $ 2221 billion by 2021.

The Indian textile market is growing rapidly for various reasons in the region.

Here are ten top reasons investing in India's textile industry is an opportunity that companies should not miss: Presence in the value chain.

The Indian textile industry exists throughout the value chain, from fibres to clothing. Many countries in the world such as Sri Lanka, Myanmar, Vietnam, etc. Rely on foreign importers of yarn and fabrics and only focus on the final product. India is one of the countries in the entire textile value chain.

Internal market growth.

The textile market in India is better than the major markets, such as the United States, the EU and Japan, in terms of consumption. Population growth in urban areas and living standards abroad has led to rising food prices. The domestic clothing market is expected to reach $ 220 billion by the end of 2025. The size of this domestic market will help the textile industry survive without uncertainty in the world market Good availability of raw materials.

India is a country rich in clothing and apparel. India has many natural forests such as cotton, linen and silk and man-made fabrics such as polyester fibre, polyester staple fibre, acrylic staple fibre and others, unlike country-dependent countries, India is independent in satisfying the demand for textiles.

Better more development opportunities.

The garment industry in India has existed for hundreds of centuries, India has a textile production base scattered all over the country in different regions. Cotton fabrics are made in almost all regions of the country. Wool and bedding are available in Maharashtra, Punjab, Gujarat, Haryana, Uttar Pradesh and Madhya Pradesh. The textile industry represents South India in the provinces of Andhra Pradesh, Karnataka and Tamil Nadu.

The Government of India, through the Integrated Textile Industry (SITP), provides the textile industry with state-of-the-art facilities for promoting textile businesses. The government supports 66 textile

parks across the country in various locations. The Government of India, in collaboration with various governments of the country, is developing plans to build infrastructures such as the Centre for Excellence and R&D centres, in accordance with international standards.

Making a profit.

Labour costs in India are relatively low compared to China, which is currently the largest manufacturing centre in the world. Get low paying jobs in India outside of other countries by helping companies, especially with certain investment plans.

Availability of skilled workers.

More than 50 per cent of India's population is under 25 and over 65 per cent of the population is under 35. By 2020, the average Indian will be 29 years old, while in China and Japan the individual is 37 and 48 years old. This young population gives India a clear advantage over its competitors in terms of access to skilled workers. The Government of India, through the Skill India Program, provides Indian children with appropriate vocational training to help them acquire the skills they need for the industry.

State political support The government recently approved 100% direct investment in the clothing sector, which is directly controlled to encourage foreign investment. The government also has a number of export strategies to encourage exports. The clothing sector is developing a new clothing policy for 2020 this year.

Political stability A stable political government is essential for business growth in all countries. Fortunately, India currently has a very stable and confident government that is developing innovative and businessfriendly policies that will help companies take advantage of India's global marketing environment. At the moment. The government leaves no stone unturned to make it easier to do business in the country. India ranks 63rd out of 190 countries in the latest World Bank study on ease of doing business in 2020, up 14 points from the previous one.

Unique access to overseas markets India's garment industry spans 43 countries, including Nepal, Sri Lanka, Bangladesh, China, Japan, Pakistan, Afghanistan, South Korea, Vietnam, Malaysia and Thailand. Less than 15 trade agreements.

The EU provides India with a flat GSP rate. This allows Indian clothing to be exported to the EU at a price 20% lower than the regular MFN price.

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