Business Tycoons - Textile Industry

The Indian Textile sector is one of the oldest sectors as fabrics have been used to make clothes since centuries now. Even before the British era, there has been constant trading of cloths and yarns from one country to the other. The industry designs, produces and distributes yarns and other fabrics and uses raw materials of natural or synthetic nature.

The industry also takes the help of the chemical industry to dye its yarns to give different colours and textures to the end products.

This industry has a lot of variety when it comes to fabrics and types of yarns produced and used. Right from hand-woven and hand-spun fabrics to digital cutting and machine-spun and woven yarns, we can see a mix of traditional and modern practices blend together seamlessly.

Fabrics like cotton, silk, wool, etc. come under the list of natural fibres whereas polymer, rayon, nylon, etc. come under the list of artificial or synthetic fibres. Cotton is the most used fabric in the world.

Another interesting fact is that the textile industry one of the largest employer for both skilled and unskilled labour. Also, the textile industry also hires women to handle various delicate tasks with care or when certain sections of the industry require attention to detail. Hence, the industry, directly or indirectly ensures empowerment of women and giving them an even playing field to showcase their talent.

Also, this industry is dependent on other sectors like agriculture for sourcing raw fabric like cotton and also to source different coloured flowers to colour the fabrics. The chemical industry, on the other hand, comes into picture when using various chemicals to treat and dye the fabrics.

Earlier, fabrics used to be coloured using natural materials like flowers and other colour-producing plants. However, today the industry uses different chemicals to bring the same effect at a much faster rate.

Textile Industry Market Size:

In the FY19, the production of fibre in India was 1.44 Million Tonnes (MT) and by January 2020, the production rate reached 1.60 MT. Also, during the same period, yarn production stood at 4.762 million kgs. There are a lot of FDIs coming in for the sector as the industry brought in $3.44 billion worth of foreign investment from April 2000 to March 2020.

Government Initiatives:

The Indian Government has taken a lot of interest in the textile sector as this sector helps India boost its imports and exports. It helps the country generate more income. Hence, the Government has brought in a lot of initiatives to boost this sector.

‘The Business Tycoons’ is one of the best business magazines in world which comprises of giving various sector reviews. We have published our latest 2020 entrepreneur magazine issues, one-stop shop for everything you need to know about the world of business and the people who run it.