The domestic textiles and apparels market in India is witnessing strong growth owing to a young population, an increase in disposable incomes and a rapid growth in organised retail.
Consequently, the domestic market is estimated to grow to over US$ 50 billion by 2014. Significantly, the textile sector is estimated to offer an incremental revenue potential of no less than US$ 50 billion by 2014 and over US$ 125 billion by 2020.
The textile industry has attracted FDI worth US$ 850 million during August 1991 and December 2008.
The Asian Development Bank (ADB) has offered to lend US$150 million to India to help revive the popularity of Khadi. The revival of Khadi industry is expected to bolster employment opportunities in India, particularly in the rural areas. India’s Eleventh Five Year Plan notes Khadi production has huge employment prospects, particularly for women and minorities. A US$ 2 million grant will be provided by the Japan Special Fund through ADB to support the implementation and monitor the progress of the Khadi industry reform package funded by the ADB loan.
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