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Back Indian textile industry to double productivity by 2030

Financial packages provided to industry have to be output based, reviewed on multiple key indicators

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Budget

Abhishek Rungta & Umesh Bhutoria 

Textile sector once upon a time was one of the key industrial sectors in India, currently contributing 5 percent to India’s GDP and 14 percent to overall index of Industrial production. According to a study conducted by Wazir Advisors and PCI Xylenes & Polyester, the sector has potential to grow 5 times to around $ 500 billion market.

However off late textile companies from India have been feeling the heat, and many smaller countries have surpassed India in terms of the share of exports in the global supply chain in textile sector. What was once the advantage for India ...

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First Published: Fri, January 27 2017. 17:01 IST