The majority of the textile industry in India is centered on cotton, and both yield and production of the crop are declining there. The 2013–2014 cotton season saw a peak in yield and production of 566 kg per hectare and 398 lakh bales, respectively.
The actual production in 2021–2022 was 310 lakh bales, yielding 451 kg per hectare. The industry and farmers suffered when a 10% import duty was imposed in 2021, causing cotton prices to spike that year and then plummet from October of the previous year.
Jobs in India’s cotton, spinning, knitting, compacting, and processing sectors are lost when fabric is imported. Thus, in keeping with the “Made in India” initiative, the government ought to promote the buying of Indian textiles. Industry sources claim that even though the current amount of imports pales in comparison to the size of the domestic market overall, shifting these orders to local manufacturers will increase output.
Indian clothing exporters continue to struggle with pricing on the global market. Despite the recent increase in wages in Bangladesh, buyers are cost-conscious, and Indian exporters do not anticipate a significant shift in orders. Clothes from Bangladesh and India should cost roughly 2-3% less overall, but labor costs in Bangladesh are nearly 30% lower.
List of Top 15 Textiles in India (BSE) based on Net Profit.
| Company Name | Net Profit (Rs. cr) |
| Vardhman Text | 749.07 |
| Cantabil Retail | 67.24 |
| Gloster | 61.26 |
| Faze Three | 57.44 |
| Panorama Studio | 39.68 |
| Voith Paper Fab | 31.76 |
| Alstone Text | 24.52 |
| Standard Ind | 20.29 |
| Axita Cotton | 17.04 |
| DNL | 14.27 |
| Shanti Spintex | 10.13 |
| Sheshadri Ind | 9.76 |
| Bella Casa | 7.76 |
| Binayaka Tex | 5.28 |
| Tatia Global | 4.38 |
Source: BSE, India, last updated 21 February, 2024
This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:
Reference:
1. Amutha, D. (2021). PROBLEMS AND PROSPECTS OF INDIAN TEXTILE INDUSTRY. Available at SSRN 3960734.
2. Chugan, P. K., & Rawani, M. (2012). Accelerating human resource performance for sustainable growth: The Indian Textiles and Clothing Industry. Global recession to global recovery: Enhancing enterprise competitiveness through human capital and operations management, 141-157.
3. Ahlawat, V., & Renu. (2018). An analysis of growth and association between labour productivity and wages in Indian textile industry. Management and Labour Studies, 43(1-2), 78-87.
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