India’s textile sector, which contributes 2.3% to the country’s gross domestic product (GDP), has been navigating a tough economic climate amid surging crude oil prices, low demand and steep raw material costs.
In fact, the sector continues to experience challenges relating to geopolitical tensions, changing trade dynamics, supply chain disruptions, and input cost volatility. As the second-largest employment generator in the country, the sector’s contribution to the economy is crucial, with MSMEs forming its backbone.
