India’s textile industry is now moving into a favourable stage as a result of diversification of global supply chains, enhanced visibility of demand, and increased sourcing activity. With increasing efforts from global retailers to de-risk from China and consolidate their sourcing from reliable sources, the Indian textile and apparel industry is set to gain from global trade, according to the Motilal Oswal report.
According to the report, home textiles is one of the best export markets of India. The report points out premiumisation, value-added products, sustainable sourcing, and brands as some of the main growth factors. As a major producer of home textiles in the world, the firm enjoys integrated manufacturing processes, a diverse product range, and global retailer networks.
Since India accounts for only about 4-5% of world trade in textiles and apparel, the industry still presents immense opportunities for increasing its market share. Additionally, according to the report, current trade agreements, such as the India-UK FTA and India-EU trade agreement, will enhance India’s competitiveness as an ideal sourcing destination.
Continued investment from Welspun Living in innovation, sustainability, brands, and new business ventures puts it in an ideal situation to take advantage of such opportunities.
Commenting on the report, Dipali Goenka, MD & CEO, Welspun Living Limited, said, “This report from Motilal Oswal is a testament to the wise decisions that we have taken through the years – in scaling up, developing deeper partnerships with customers, focusing on innovations and sustainability, and venturing into high-growth segments. India stands at a true inflexion point when it comes to global sourcing of textiles, and we stand uniquely poised to benefit disproportionately from this change in structure. We are very much focused on growing and adding value for all our stakeholders.”
About Welspun Living Ltd
Welspun Living Ltd (WLL), a unit of the $5 billion Welspun Group, is one of the largest companies manufacturing home textiles, with a sales network in more than 50 countries across the world and manufacturing plants of international standards in India and the US. Welspun is a partner to leading retailers of the world. The strategy at WLL revolves around branding, innovation, and sustainability.
