India, the second-largest producer of textiles and garments, has been eyeing to be a sourcing hub, riding on the back of a skilled labor force and opulence of cheap raw materials. With Indian Textile Industry accounting for a quarter of the global spindle capacity, its potential size is speculated to reach US$23 billion by the end of this decade.
Being the second largest employment generating sector in the country after agriculture, Textile Industry has got a huge bearing on the country’s economy. Hence, a holistic development of this sector is imperative for GDP expansion. Infusing the right kind of technology with this industry is definitely the roadmap to tap the entire market potential.