New Delhi [India]: India's textile industry could be entering its strongest opportunity in decades as global apparel sourcing shifts away from China, with tariff parity, improving trade access and policy support potentially enabling Indian manufacturers to capture a larger share of the global market, according to brokerage firm Nuvama Institutional Equities.
Nuvama said the global textile industry, valued at around USD 1.6 trillion, is a mature market growing at only 2.5-3.5 per cent annually. The opportunity for India is therefore not primarily driven by higher global consumption, but by a reallocation of existing sourcing volumes. China's share of US apparel imports has halved over the past decade, leaving around 20 per cent of the US market share to be contested by alternative suppliers including India, Bangladesh, Vietnam, Pakistan and Indonesia.
