New
Delhi
It is seen that the demand for everything
is soaring at an exponential rate. The same is the case in the textile
industry. India being one of the largest manufacturers of fabrics has taken a
unique place in the textile world.
The textile and
apparel industry of India forms 5% of its GDP. It is expected that the country
will grow at a CAGR of 20% for the next 5 years. It is a well-known fact that
the global textile industry has an influence on everybody. The world has
different requirement which means that all the countries get the same level of
opportunities to produce varieties of fabrics. The textile industry contributes
to 2% of the Global Domestic Product. It is forecasted that the textiles and
garments industry is going to achieve a worth of $190 billion by 2025-26.
It is also seen
that nowadays, online fabrics stores have also pulled up their socks. Fashion
influenced people also want to try something new. They give their customers the
freedom to choose the design which is later imprinted on the desired fabric. Nobody wants to look ordinary
anymore. In a nutshell, the fashion industry is highly enthusiastic with thousands
of physical stores and hundreds of online stores. The industry is expected to
grow manifolds in the future.
Source – The Times Of India
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