Sure, here are some of the recent developments in the textile industries in India:
The government has extended the deadline for applying for the Production Linked Incentive (PLI) scheme for textiles to October 31, 2023. The scheme aims to boost domestic manufacturing of textiles and apparel by providing financial incentives to eligible companies.
The home textile industry is expected to see a revenue growth of 7-9% in the current fiscal year. This is being driven by factors such as rising disposable incomes, increasing urbanization, and growing demand for eco-friendly products.
The government is considering making it mandatory for a certain amount of textile products in government procurement to come from recycled materials. This is in line with the government’s efforts to promote sustainable practices.
The Indian hosiery sector has registered a revenue growth of 18-20% in the first quarter of 2023. This is being driven by factors such as rising demand for innerwear and sportswear.
The government has signed a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE). This agreement is expected to boost textile exports from India to the UAE.
These are just a few of the recent announcements in the textile industries in India. The industry is constantly evolving and there are many new developments happening all the time. To stay up-to-date on the latest news, you can follow industry publications such as Fibre2Fashion and The Economic Times.
In addition to the above, here are some other recent trends in the Indian textile industry:
- The use of sustainable materials, such as organic cotton and recycled polyester, is increasing.
- There is a growing demand for functional textiles, such as moisture-wicking and anti-bacterial fabrics.
- The use of technology, such as 3D printing and artificial intelligence, is becoming more common in the textile industry.
- The Indian textile industry is increasingly focusing on exports.
The Indian textile industry is a major contributor to the country’s economy. It provides employment to millions of people and generates billions of dollars in revenue. The industry is poised for further growth in the coming years, driven by factors such as rising demand, increasing investment, and technological advancements.
Top 10 Textiles Companies in India based on Marketcap
|S.No.||Name||CMP Rs.||Mar Cap Rs.Cr.||1Yr return %||EPS 12M Rs.||P/E||Sales growth %|