The textile industry, according to estimates, was worth $151.2 billion in 2021 and is projected to be worth $344.1 billion in 2027 which is a 15 percent CAGR growth. According to government data, around 3 to 4 crore people are engaged in the total value chain of India’s textile sector, which makes it the second largest provider of employment after agriculture.
textile industry We can say that opportunities are growing in this industry as the traditional sector is undergoing automation. The medical field is not behind in this race as the application of textiles in the medical field has been a game-changer, as the use of conductive yarns embedded with sensors to remotely monitor a patient’s health parameters has increased the demand for healthcare researchers in the textile business.
With the current focus on technical textiles, there is a rising demand in domestic and global markets. Indian manufacturers produce textiles that are classified into 12 different categories, including Agrotech, Oekotech, Buildtech, Meditech, Geotech, Clothtech, Mobiltech, Hometech, Sportstech, Indutech, Protech, and Packtech.
There is a value chain in the textile industry, right from procuring the raw materials to the end consumers.