INDUSTRY IS EXPECTED TO MARK GROWTH RATE AROUND 11% IN THE COMING YEARS
India is known as one among the world’s largest producers of Textiles and Apparel. The textiles and apparel industry in India spreads across the entire value chain from fiber, yarn, fabric to apparel. The Indian textile and apparel industry is highly diversified with wide range of segments ranging from products of traditional handloom, handicrafts, wool, and silk products to the organized textile industry in India. The organized textile industry in India is characterized by the use of capital-intensive technology for the mass production of textile products and includes spinning, weaving, processing, and apparel manufacturing. USA was the top export destination, followed by EU, Bangladesh, and UAE. Here is a quick overview of key players in the industry.
Page Industries
Page Industries Limited is an India-based company that is engaged in the business of manufacturing and trading garments. The Company offers knitted garments. The Company offers range of products for men, women and children. The Company is engaged in the manufacturing, distribution, and marketing of Jockey products. It holds the license of SPEEDO, an international brand for swimwear. The Company’s Jockey brand products are sold through exclusive brand outlets (EBO), large format stores (LFS), multi-brand outlets (MBO), traditional hosiery stores and multi-purpose stores spread across India. It has six operational EBOs outside India, four in UAE and two in Sri Lanka.
Trident
Trident Ltd (Trident) manufactures, markets and exports home textile, yarn, paper, and chemicals. The company’s product portfolio comprises cotton combed yarn, open-end yarn, zero twist yarn, air rich yarn, bed linen and bath linen, copier paper, writing and printing paper, bible and offset printing paper, maplitho paper and sulphuric acid. It markets products under Royal Touch, Spectra, My Choice, Natural, Enviro, Digi Print. The company operates in India, the US, Italy, the UK, France, Japan, and Australia. Trident is headquartered in Ludhiana, Punjab, India.
KPR Mill
KPR Mill Ltd (KPR Mill) is a manufacturer of apparel and sugar products. The company produces yarn, knitted grey, dyed fabric, and readymade garments. KPR Mill produces yarns in various variants such as fabrics, readymade knitted apparel, compact, carded, melange, combed, vortex viscose, polyester, and fancy yarn. The company offers a range of sportswear, casual wear, sleepwear, active wear, and workwear. It is also involved in fabric dyeing and processing, printing and knitting business. The company offers its garments under the Faso brand name. KPR Mill is headquartered in Coimbatore, Tamil Nadu, India.
Industry Performance
India has held superiority in the textile and apparel industry since decades, but the sector experienced a temporary dent between 2020 and early 2021 due to the widespread pandemic. It only required a mere push for India amidst globally reviving economic conditions and the country made sure to catch hold of the positivity and healthy demand both in overseas and domestic markets.
The performances of key companies in the industry give indications that the industry has recovered from the pandemic and are making profits. The reported margin of the industry by analyzing the key players was around 9.8% by taking into consideration the last 3 years’ data.
The Textiles, Apparels & Accessories sector is expected to grow over the following few years, according to estimates. However, despite growth, no certainty can be stamped, especially looking at the overall scenario. The export demand is expected to stay affected as inflation, rising interest rates, high fuel rates and geo-political disturbances reduce demand visibility. At the same time, pressure on input costs is likely to remain strong at least until November when new crop arrival may soften cotton prices moderately.
But companies across all the product and market segments are enthusiastic about the future. A few companies have planned to overcome the future challenges by laying out a proper growth plan and they are ready to come up with more offerings, exploring new geographies to increase their presence. This factor would increase the growth in the industry by 5% more than the reported growth, the industry is expected to exhibit CAGR of 11.1% in the next five years from 2023 to 2027.
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