International buyers are keen to diversify their sourcing of textiles and apparel, chiefly to develop alternatives to China. India, being the second largest textile industry in…
Browsing: Navdeep Singh Sodhi
Though textiles and apparels sector is a huge industry worth $1.5 trillion, it also accounts for about 10% of the global greenhouse gas emissions. By focusing…
The two mega trends of climate change and digitalization – collectively termed the ‘Third Wave’ – will have a profound impact on the textile value chain. Navdeep Singh Sodhi in this article offers a policy perspective to foster new business models.
Exploring new markets, digitisation, state of the art infrastructure and boost in R&D can reposition India as a leader in the global textile industry.
On November 11, 2020, the Union Cabinet gave its approval to extend the PLI scheme to textile products along with nine other new sectors entailing additional financial outlay of Rs 1,460 billion over a five-year period.
India dreams of capturing 8-9 per cent of the total global trade by 2020, however looking at the present scenario, it may capture a share of only 5-6 per cent by 2020.
The year 2019 was challenging for the Indian textile industry with exports of textile & apparel declining by 4.3 per cent to $22 billion in the first seven months of FY2020 (April-November); thus, impacting the textile machinery segment as well.