Textile - #SectorUpdates
The global apparel market size is expected to reach USD 2.6 trillion in 2025 growing by a projected growth rate of 4 percent. The major growth drivers of the global apparel market will be the developing economies, mainly China and India, both growing in double digits. China will become the biggest apparel market adding more than USD 378 bn. in market size by 2025, while India will be the second most attractive apparel market adding around USD 121 bn. by 2025. In order to be the global leader, the Indian textile industry requires support from both the Central and State governments to become competitive in the Global market. It is high time for the Indian textile industry to upgrade its technology and implement ERP to streamline the supply chain and enhance customer relations management activities. These measures are enabling the industry in becoming competitive in the global market.