Why automation matters for Indian textile industry?

Despite being the largest producer and second
largest exporter of textiles, India’s share in world textiles and clothing (T&C)
exports is around 5% compared to China’s 38%. While other competing nations
like Bangladesh and Vietnam have increased their share in global T&C in a
short span, India’s share in the global trade has remained stagnant during this
period. The biggest challenge is the global competitiveness. In addition to
access to low-cost raw materials (manmade fibres and filaments) and duty-free
access to all the major markets, the emerging competing countries (like
Bangladesh and Vietnam) have invested heavily in modern, state-of-the-art
manufacturing plants to increase their competitiveness.

 

 

Table
1: World Export Statistics of Textiles and Clothing (Mn USD)