India Ratings and Research (Ind-Ra) has revised the textile sector outlook to improving for FY22 from negative, reflecting the likelihood of higher revenues and operating margins, post business disruptions led by COVID-19 in FY21.
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Being a large manufacturer and exporter, the Indian textile industry has consistently been looked forward to – in terms of product, manufacturing processes and channels of sale.
An unanticipated outcome of COVID-19 has been India becoming an alternative to China for buyers worldwide in the global textile supply chain. But can India take the lead and seize the opportunity?
Birla Cellulose, the pulp and fibre business of USD 48.3 billion Aditya Birla Group is a leading sustainability focused man-made cellulosic fibre producer.
India’s Top 50 Textile Companies
The pandemic has clearly taught us to consume consciously. At present productivity and enhanced manufacturing is the goal for all industries. The manufacturing industry gives rise to lots of direct and indirect opportunities.
In 2020 alone, Asia Pacific accounted for 51 per cent of the global textile market, making it the largest region. India is the second-largest manufacturer and exporter of textile and clothing in the world, with a 5 per cent share of global trade.