Textile - #SectorUpdates
India is the second-largest garment manufacturer in the world and has a textile industry that dates back centuries and is comprised of a variety of sectors, including hand-spun and hand-woven, as well as mills. Approximately 100 million people have been employed by the industry, which produces a wide range of goods and employs a substantial number of people. During the last five years, the sector has received FDI and several other investments. Many more investments from programs such as Scheme for Capital Building (SCBTS), and Production-linked Incentive (PLI) are helping to improve the industry’s output and exports. By 2025, the textile sector in India is anticipated to attract investments totaling USD 120 billion and grow exports to USD 300 billion. India’s textile sector must make several modifications and apply some new practices to increase its competitiveness. One of the implementations to boost production includes a greater emphasis on technological upgrades and weaving capacity expansion.