Indian textile and clothing industry has embarked on a vision of capturing market worth USD 110 bn by FY 2012 - total of domestic household consumption and exports, from USD 52 bn in FY 2006.
The domestic household market potential is estimated to be USD 60 bn and FOB value of exports at USD 50 bn by FY 2012.
The above growth would translate into value of production of the industry (including non-household consumption) to increase at 16% p.a. from USD 27 bn in FY 2005 to around USD 76 bn in FY 2012
The principal drivers of growth would be -
5.7% p.a. growth in world trade in textiles and clothing from USD 479 bn in CY 2005 to around USD 700 bn in CY 2012 (USD 677 bn in CY 2011)
India's share in the export market to increase from current 4% to around 7% by FY 2012
Share of clothing in India's export basket to increase to 60% by FY 2012 from 48% in FY 2006
Domestic household market growth to be driven by increase in penetration of organised retail, favourable demographics and rising consumption & income levels
Domestic non-clothing consumption growth would be driven by rising usage of technical textiles, spurred by industrial growth, and increased activity in construction of residential and commercial properties thereby driving demand for furnishing items.
In order to achieve the above growth, the production output of the industry would need to almost double by FY 2012 from current levels. The higher growth in value would result from manufacturing of more value added products and rise in usage of technical textiles
Need to increase the output would call for investments to the tune of Rs. 1,94,000 Cr. (USD 43 bn) during FY2007-2012
Consequently the Industry could potentIally generate additional employment for 14 million people of various classes and skill. Direct employment opportunities for 6 million jobs are envisaged, with 4.4 million in the apparel sector. Indirect employment of 8 million are expected through the allied sectors.
Employment generation in the Textile and Clothing industry during FY2007-2012 will be more than 14 million jobs.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
