17th November 2017,
Bombay Exhibition Center
Overview of the global and Indian textile market
At US$ 1500 billion of estimated annual revenue at retail level the global textiles and clothing industry, if it were a country, would be ranked as the 11th largest economy in the world. There is a strong correlation between the world economic growth (GDP) and textile consumption. According to ICAC (International Cotton Advisory Committee), the annual textile consumption is projected to grow at 3.1 percent between 2016-25. IMF, in its latest World Economic Outlook pointed to the gaining momentum in the global economy. Global growth which in 2016 was weakest since the global financial crisis at 3.2 percent, is projected to rise to 3.6 percent in 2017 and 3.8 per cent until 2022. More importantly, economic growth in advanced economies is recovering. Apparently, this augurs well for the textile & clothing industry.
India’s textile and clothing industry
India has the world’s second largest textile industry after China, contributing to 4 percent to the country’s GDP and employing 45 million persons directly. The industry’s annual output valued at US$ 104 bn billion in 2015 is projected to reach US$ 238 by 2025, growing at 9 percent CAGR, with domestic demand being the engine of growth. India’s per capita textile consumption at 5.4 kgs in 2016 kgs is projected to increase to 7.9 kgs till 2030. The industry is predominantly cotton based with greater potential for manmade fibers to penetrate. India is the second largest exporter of textiles and clothing after China. Its exports of US$ 35.5 bn in 2016 represented 4.9 percent market share of the world trade in textiles and clothing, with further potential to grow. With strong government support,the industry is poised to claim its rightful place in the global textile landscape.
FOCUL POINT – ISPO ACADEMY
Sports goods manufacturing is a focus area in the Foreign Trade Policy (2009-2014) and the government is taking a fresh look at the current foreign direct investment policy in retail sports goods retail market in India is populated with small over-the-counter stores or a few hundred square feet space in department store
Through use of technology, introduction of innovative and inclusive formats, opening up more facilities and unlocking access to existing ones – the participation numbers can be driven exponentially.
The ISPO Academy will be a strong knowledge sharing platform, which will bring together renowned experts to discuss latest trends, innovations, technologies, opportunities and challenges in Sport Textile Sector.
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