Market environment surrounding a Japanese fashion retail giant UNIQLO
- India is the world’s second largest producer of textiles and garments
- Rising per capita income, favorable demographics and a shift in preference to branded products to boost demand.
- The domestic textile industry in India is projected to reach US$ 223 billion by 2021F from US$ 150 billion in November 2017.
- Favorable trade policies and superior quality to drive textile exports.
- India’s textile and apparel export stood at US$ 39.20 billion in FY18 and is expected to increase to US$ 82.00 billion by 2021.
- In FY19, India's textile and apparel exports increased 1.66 per cent to US$ 35.969 billion as compared to US$ 35.381 in FY18.
- Competitive advantage of Indian textile and apparel industry is abundant availability of raw materials such as cotton, wool, silk and jute.
- Increase in domestic demand set to boost cloth production.
- Cloth production in FY18 stood at 67.5 billion square meters.