Tamil Nadu textile sector focuses on growth: ITF survey

Tamil Nadu textile sector focuses on growth: ITF survey

The Tamil Nadu textile sector is betting on growth with a focus on value addition, according to a survey by Indian Texpreneurs Federation (ITF), a major textile body.

Coimbatore, Tamil Nadu

The Tamil Nadu textile sector is betting on growth with a
focus on value addition, according to a survey by Indian Texpreneurs Federation
(ITF), a major textile body.


ITF
conducted the survey to understand the growth aspirations of the textile and
apparel sector in Tamil Nadu in line with the positive trend prevailing in
exports market in the post- Covid global business environment.

While
30% of the entrepreneurs have mentioned they were confident of doubling their
current sales in 3 years’ time with a 25% Compound Annual Growth Rate (CAGR),
18% mentioned that they will double their current sales in 4 years with a 20%
CAGR and 36% mentioned about achieving the target of doubling yarn sales in 5
years’ time with 15% CAGR.

Prabhu
Damodharan, ITF convenor, said that, this showed a very positive and vibrant
change in the business environment in textile and apparel sector in Tamil Nadu.
He said that within the sub-segments of textile manufacturing, home textiles,
weaving & apparel segments were showing better momentum in terms of growth.
He added that the trend will help the TN textile sector to further strengthen
the value-added product manufacturing.

According
to Prabhu, Team
ITF will guide interested companies in
making value-added products, create various platforms to enable NextGen to
engage and guide companies to step into eEquity markets in a structural way.

Source: Outlook

Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/truetzschler-to-present-sustainable-solutions-at-index

https://indiantextilejournal.com/latest-textile-industry-news/uster-offers-a-combined-solution-for-nonwovens-qc

 

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (2)
  • comment-avatar

    Very nice blog post. I definitely love this site. Stick with it!
    live tv bbc horse racing results https://bit.ly/william-hill-live-tv-streaming-services

  • comment-avatar

    But wanna say that this really is quite helpful , Thanks for taking your time to write this. https://freehorseracingtv.com/

  • Disqus ( )

    Hi There!

    Now get regular updates from ITJ Magazine on WhatsApp!

    Click on link below, message us with a simple hi, and SAVE our number

    You will have subscribed to our Textile News on Whatsapp! Enjoy

    +91 81082 88300

    Reach out to us

    Call us at +91 8108603000 or

    Schedule a Call Back