Intex India 2023

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AI Revolutionizes the Textile Industry

30 November 2023, Mumbai

Beyond Economics: From Smart Textiles to Sustainable Practices

Evolving Consumer Preferences Drive Digitalization

  • As consumer preferences shift towards convenience and personalization, digitalization has emerged as a driving force in the textile and fashion sectors. This digital transformation is paving the way for innovations like smart textiles, which are expected to reach a market value of approximately 5.55 billion USD by 2025.

AI and IoT Revolutionize Textile Production

  • Traditionally reliant on manual labor, the textile industry is now embracing AI and IoT innovations to enhance efficiency and productivity. AI-powered defect detection systems are streamlining production processes, while smart clothing embedded with AI and IoT sensors is enabling the collection of biometric data from wearers.

AI and Automation: A Double-Edged Sword for Workers

  • The integration of AI and automation in textile manufacturing is creating new opportunities for innovation and productivity gains. However, this transformation also presents challenges for workers, potentially leading to job displacement and the need for reskilling and upskilling initiatives.

AI's Impact on Fashion and Textiles: From Trend Prediction to Sustainable Practices

  • AI is playing a multifaceted role in shaping the future of fashion and textiles. AI-powered algorithms are being employed to predict trends, automate design processes, and promote sustainable practices by optimizing resource utilization and reducing waste.

AI: A Catalyst for Transformation in the Textile Industry

  • The old-fashioned textile industry, long struggling to adapt to modern demands, is now relying on AI and automation to drive improvement. 
  • AI is serving as a catalyst for change, enabling digital transformation within the textile and apparel sector to address challenges and enhance efficiency, sustainability, and customer satisfaction.

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AI Revolutionizes the Textile Industry

Indian Retail Landscape boom: JLL India report

29 November 2023, Mumbai

WHY India-Next big market

Key Insights:

India's retail landscape is set for a significant expansion, with an estimated 38 million sq. ft. of new retail space expected to be available in the top seven cities by 2027.

International brands are flocking to India, with 24 brands actively seeking retail spaces.

The rise of omni-channel retailing is driving demand for brick-and-mortar stores.

Consumers are seeking immersive shopping experiences, leading to increased footfalls and higher rental rates.

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Emerging Trends:

Delhi-NCR is emerging as a retail hotspot, with a projected 31% of new supply.

New Gurugram and Greater Noida West are emerging as potential Grade A retail destinations.

Data Points:

The first half of 2023 saw a 24% surge in retail space leasing compared to the same period in 2022.

Fashion & clothing accounted for 38% of total lease activity in the first half of 2023.

Malls to Witness Significant Growth in Trading Values and Rental Incomes in FY 2024, ICRA Predicts

ICRA, one of India's leading credit rating agencies, has projected a strong upward trajectory for the retail industry, with malls set to reap substantial benefits. 

The agency anticipates a remarkable surge in trading values of up to 4-5% in FY 2024, indicating a robust recovery from the pandemic's impact. 

Furthermore, ICRA expects rental incomes to witness a healthy growth of 8-10% during the same period.

These positive projections stem from the overall success of retail across India, which has witnessed a resurgence in consumer spending and demand. 

As footfalls in malls continue to increase, retailers are expanding their presence, leading to higher occupancy rates and an overall revitalization of the retail sector.

Prognosis for future

ICRA's optimistic outlook for malls is further reinforced by the growing popularity of omni-channel retailing, which seamlessly blends online and offline shopping experiences. 

This approach has driven consumers back to physical stores, seeking immersive and engaging shopping experiences that e-commerce platforms cannot replicate.

As a result of these factors, malls are poised to play a pivotal role in India's retail landscape, with FY 2024 expected to be a year of significant growth and consolidation for the industry.

Future Outlook:

India's retail space market is expected to reach a value of $2 trillion by 2032.

Overall, the JLL India report paints a positive picture of India's retail landscape, with strong growth expected in the coming years.


  • Soaring middle class
  • Rapid urbanization
  • Evolving consumer preferences
  • Increasing disposable incomes
  • Growing adoption of e-commerce

Key Insights

  • Retail boom in top seven cities
  • Influx of international brands
  • Omni-channel retailing trend
  • Demand for immersive experiences

Emerging Trends

  • Delhi-NCR as retail hotspot
  • Grade A retail destinations
  • Fashion & clothing dominance

Data Points

  • 24% surge in retail leasing
  • Robust recovery from pandemic
  • Healthy rental income growth

Prognosis for future

  • Pivotal role of malls
  • Omni-channel retailing boost
  • FY 2024 as a growth year

Future Outlook

  • $2 trillion retail space market
  • Strong growth in coming years

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Shapership: India and Switzerland Forge a Strategic Alliance

25 November 2023, Mumbai

In a momentous stride towards bolstering bilateral cooperation and fostering economic growth, the textile sectors of India and Switzerland have joined forces through a groundbreaking Joint Declaration signed by the Confederation of Indian Textile Industry (CITI) and Swiss Textiles on November 23, 2023. 

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Momentous occasion

This remarkable agreement marks a pivotal moment in the textiles industry, paving the way for enhanced trade, innovation, and sustainable practices.

At the heart of this strategic alliance lies the 19th Joint Economic Commission (JEC) meeting between India and Switzerland, held on November 24. Dinesh Nolkha, Vice Chairman of CITI, played an instrumental role in this gathering, which delved into the intricacies of the Joint Declaration and charted a course for fruitful engagement with the Swiss Textile Industry.


CITI's Chairman, Rakesh Mehra, eloquently captured the essence of this collaboration, emphasizing its shared vision to elevate bilateral cooperation, streamline trade, and catalyze economic growth within the textile sector. 

Both trade associations have pledged their unwavering commitment to the development of a comprehensive Trade and Economic Partnership Agreement (TEPA), poised to revolutionize the landscape of textiles.

Recognizing the immense potential of India's textile market, renowned for its precision, quality, and innovation, Swiss Textiles is eager to explore new avenues for trade, technology exchange, and investment within the textile value chain. 

This partnership holds immense promise for fostering growth, innovation, and global competitiveness in India's vibrant textile sector.

United we stand

The Joint Declaration meticulously outlines the key aspects of eliminating trade barriers, securing market access, strengthening mutual cooperation, encouraging investments, and adhering to sustainable practices. 

The proposed TEPA, a cornerstone of this alliance, will serve as a catalyst for collaboration in research and development within the textile sector, presenting a transformative opportunity for both nations.

Empowering Textiles

This historic landmark in the bilateral relations between India and Switzerland signifies a shared commitment to reinforcing the textile industry, propelling economic growth, and creating employment opportunities. 

The combined efforts of India and Switzerland will undoubtedly reshape the global textile landscape, paving the way for a brighter, more sustainable future.

Five key insights :

  1. Textile Alliance: India and Switzerland forge groundbreaking alliance.

  2. Enhanced Trade: Joint Declaration promotes trade, innovation, and sustainability.

  3. Shared Vision: CITI and Swiss Textiles collaborate for economic growth.

  4. TEPA Commitment: Trade associations pledge comprehensive agreement.

  5. Sustainable Future: Alliance aims to reinforce textile industry and create jobs.

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Mixed Performance of T&A Sector in October 2023

24 November 2023, Mumbai

Industry experts and financial data align with CITI's October 2023 analysis of India's textile and apparel (T&A) sector performance.

Textile Exports Flourish but Apparel Sector Struggles

  • Textile exports experienced a remarkable 24% surge in October 2023 compared to the same month in 2022.

  • Cumulative T&A exports grew by 10.44% in October 2023 compared to the previous year, indicating overall growth in the sector.

  • However, the apparel sector presents a contrasting picture, with an 8.08% decrease in exports observed in October 2023, highlighting the sector's struggles.

Mixed Picture Emerges from Overall T&A Export Performance

  • The overall performance of cumulative T&A exports over the six-month period from April to October 2023 has been lackluster.

  • A 6.67% decline was registered compared to the same period in 2022, and a more significant drop of 15.55% compared to the same period in 2021, reflecting a slowdown in T&A export growth.

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T&A Sector Makes Modest Contribution to Total Exports

  • Despite the overall downturn, the T&A sector's contribution to the nation's total exports showed a modest improvement from 7.31% in 2022 to 7.6% in 2023, indicating a slight gain in its share of total exports.

Certain Segments Face Setbacks

  • Popular Indian raw cotton and waste exports faced severe setbacks, declining by 78.69% compared to the same period in 2022, highlighting the challenges faced by specific segments within the T&A sector.

Manufacturing Sector Mirrors Subdued Export Performance

  • The manufacturing sector mirrored the subdued state of exports, despite expectations of a boost from the domestic apparel market during the festive season.

  • This subdued performance suggests that the manufacturing sector is also facing challenges apart from the slowdown in exports.

Manufacturers Grapple with Regulatory Challenges

  • Challenges such as the recent Quality Control Order mandating Bureau of Indian Standards certification for man-made fibers, including imports, have contributed to a decline in exports.

  • These regulatory hurdles have made it difficult for manufacturers to meet government specifications in international markets, further hindering export growth.

Workforce Implications: a Cause for Concern

  • The implications of the sector's subdued performance on the workforce are a matter of concern.

  • Industry leaders hold varying perspectives on the future trajectory of the T&A sector.

  • While some, like KM Subramaniam, president of the Tiruppur Exporters Association, express confidence in a temporary decline and anticipate a revival with recent policy changes, others warn of potential job losses if the current trend persists.

Revival of Western Demand: Crucial for Apparel Exports

  • The revival of demand in Western markets is identified as a crucial factor that could potentially uplift India's apparel exports.

  • An increase in demand from Western markets could provide the necessary boost to the apparel sector, which has been struggling in recent months.

A Mixed Performance with Uncertain Future

  • The CITI monthly report depicts a mixed performance in the T&A sector, with varying perspectives on the industry's future trajectory.

  • The positive growth in textile exports and the modest improvement in the T&A sector's contribution to total exports offer some hope for the industry's overall performance.

  • However, the challenges faced by the apparel sector, the subdued manufacturing sector, and the regulatory hurdles faced by manufacturers create uncertainty about the industry's future growth prospects.

    Key Insights:

    1. Textile Exports Soar:

      • Remarkable 24% surge in October 2023.
      • Mirrors positive financial data trends.
    2. Apparel Sector Struggles:

      • Apparel sector faces an 8.08% decrease.
      • Highlights challenges within the industry.
    3. Mixed Picture in Overall T&A:

      • Cumulative T&A exports show lackluster growth.
      • 6.67% decline compared to 2022.
      • 15.55% drop compared to 2021.
    4. Modest T&A Contribution to Exports:

      • T&A sector contributes 7.6% in 2023.
      • Slight gain from 7.31% in 2022.
    5. Challenges and Setbacks:

      • Certain segments, like raw cotton, face setbacks.
      • Manufacturing mirrors subdued export performance.
      • Regulatory hurdles impact export growth.
    6. Workforce Concerns Amid Uncertainty:

      • Workforce implications raise concerns.
      • Varying perspectives on sector's future.
      • Policy changes may impact revival.
    7. Crucial Role of Western Demand:

      • Western market demand crucial for revival.
      • Potential uplift for struggling apparel sector.
    8. Mixed Performance with Uncertain Future:

      • CITI report indicates a mixed performance.
      • Positive textile growth contrasts sector challenges.
      • Uncertainty persists about future growth.

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Booming Innerwear Industry: Comfort Meets Style

28 November 2023, Mumbai

The global innerwear industry is experiencing a remarkable surge, fueled by the rising spending power of a style-conscious youth demographic. Innerwear, once a hidden segment, is now taking center stage as a global fashion trend. India's innerwear sector has witnessed impressive growth, particularly post-pandemic, driven by the pervasive influence of social media.

Industry Dynamics:

  • Innerwear companies are strategically pursuing revenue and profit growth to optimize earnings.
  • The youth segment, with its immense sales and expansion potential, is a key target market.
  • A recent Textile Value Chain (TVC) report reveals the innerwear market segmentation:
    • Men's wear: 82%
    • Women's wear: 15%
    • Kids' wear: 3%
  • Analysts anticipate significant growth in the men's innerwear segment from 2020 to 2025.

Market Trends:

  • The overall innerwear market valuation stood at $1.9 billion in FY20, projected to reach $3.1 billion by FY25, with a CAGR of 10.3%.
  • The women's innerwear segment, worth $4.4 billion in FY20, is estimated to grow at a CAGR of 14%, reaching $8.5 billion by FY25.
  • Kids' wear, valued at $14 billion, is expected to grow at a CAGR of 10.5%, reaching $23 billion by FY25.

These figures underscore the promising outlook and substantial growth potential across various innerwear segments.

Competitive Landscape:

  • Major players like Jockey, Zivame, Van Heusen, Rupa, Dollar, Enamor, Clovia, Marks & Spencer, Nykaa, and Amante are fiercely competing in the Indian innerwear market.
  • New entrants like Reliance Retail and Nykaa are making their mark, leveraging their strong online presence.
  • The landscape is complex, with Reliance Retail holding a dominant position in the men's wear segment, while Zivame and Clovia lead in the women's wear segment.

Key Factors Driving Growth:

  • Rising disposable income, particularly among the youth
  • Increased awareness of fashion and style
  • Growing focus on comfort and quality
  • Proliferation of e-commerce platforms
  • Expansion into smaller cities and towns

The Indian innerwear industry is poised for continued growth, driven by these factors and the increasing demand for stylish and comfortable innerwear.

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Booming Innerwear Industry: Comfort Meets Style

India's men's underwear market is grappling with a downturn

25 November 2023, Mumbai

The Men's Underwear Index (MUI), a barometer of the country's economic health, is charting a downward trajectory.

Page Industries, the proprietor of the Jockey and Speedo brands in India, witnessed a revenue and volume decline of 8.4% and 8.8%, respectively, in the September quarter.

Trade dynamics

To manage excess inventory, many brands are resorting to unsustainable business practices.

The market, valued at $6.3 billion and accounting for 9% of India's overall fashion retail segment, remains largely disorganized and fragmented.

The demand slowdown is attributed to a high base, particularly in the athleisure wear segment.

Additional points

Consumers have curtailed spending on non-essential apparel items since Diwali last year, owing to factors such as inflation, rising interest rates, job losses in sectors like startups and IT, and an overall economic deceleration.

Sluggish consumer demand and bloated inventories continue to be a great concern.

The market is also facing stiff competition from digital-first brands like XYXX, Damensch Almo, Bummer, and Freecultr, which entice consumers with attractive pricing.

Five key insights :

  1. MUI down: The Men's Underwear Index (MUI) is declining, reflecting economic weakness.

  2. Page Industries' decline: Page Industries, a major underwear brand, saw revenue and volume drop.

  3. Unsustainable practices: Brands are resorting to unsustainable practices to manage excess inventory.

  4. Fragmented market: The men's underwear market is largely unorganized and fragmented.

  5. Demand slowdown: Demand is slowing down, particularly in athleisure wear.

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Diwali 2023: A Mixed Bag for Garment Retailers

21 November 2023, Mumbai

Diwali, the festival of lights, is traditionally a time for increased spending in India, with sales across various categories, including garments, receiving a boost. However, the 2023 Diwali season, which concluded on November 12, has left representatives of the garment sector feeling disappointed with the lackluster sales performance.

Garment Sales Fail to Shine

Rahul Mehta, Chief Mentor of the Clothing Manufacturers Association of India (CMAI), expressed his disappointment with the overall performance of the garment retail sector during Diwali 2023. He noted that this year's sales were the weakest since the COVID-19 pandemic began.

Mehta questioned why garment sales did not experience the same growth as other categories, such as FMCG products, domestic appliances, automobiles, and personal devices. 

He hypothesized that consumers might have prioritized social and religious aspects of the festivities, leading to increased spending on home upgrades, gold and silver purchases, and entertainment.

Another possibility, according to Mehta, is that impulsive garment purchases throughout the year have resulted in well-stocked wardrobes, eliminating the need for new clothing during Diwali.

Bhivandi Powerloom Industry Takes a Break

The Bhivandi powerloom industry, which caters to the domestic garment market, is taking a 20-day holiday this month due to the sluggish demand that has affected the entire textile value chain, including cotton farmers, ginners, and spinning mills.

In contrast to 2022, when Diwali clothes and footwear sales surged by almost 97% compared to 2021, the 2023 Diwali season saw sales in the single digits.

Inflation Dampens Spending

India's rising inflation, currently at 5.4%, is expected to continue throughout the fiscal year 2023-24. This represents a 0.3% increase from the previous year.

A YouGov India survey revealed that only 31% of urban Indians planned to increase their spending during Diwali 2023, down from 36% in 2022. Among those who intended to spend more, 68% indicated that they would allocate their increased spending towards new clothes. However, post-Diwali figures suggest that these intentions did not translate into actual purchases.

Deepa Bhatia, General Manager of YouGov India, attributed the subdued spending behavior to the rising cost of living. She emphasized that discretionary spending, including garments, is likely to be adversely affected by inflation.

CAIT's Conflicting Narrative

The Confederation of All India Traders (CAIT) presents a different perspective on the Diwali 2023 market performance. In a statement, CAIT claimed that retail markets across India registered record sales of Rs 3.75 lakh crore during the entire festive season, encompassing Navratri, Durga Puja, and Diwali. 

They further projected an additional Rs 50,000 crore in sales from upcoming festivals like Govardhan Pooja, Bhaiya Dooj, Chhath Pooja, and Tulsi Vivah.

CAIT Secretary General Praveen Khandelwal also highlighted the significant reduction in sales of Chinese goods during the Diwali season, estimating a loss of over Rs 1 lakh crore. This decline is attributed to a preference for Indian-made festive products.


While the overall festive season witnessed record sales across various sectors, the garment retail industry experienced a mixed bag of results. 

Despite intentions to increase spending, garment sales failed to meet expectations, raising concerns among industry representatives.

5 key insights :

  1. Garment sales fall during Diwali 2023.

  2. Social spending prioritizes over new clothes.

  3. Inflation dampens discretionary spending.

  4. CAIT reports record festive season sales.

  5. Indian-made products gain preference.

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Revolutionize Fabric Digitization with AI Technology

28 November 2023, Mumbai

The textile and apparel industry stands at a pivotal juncture, poised to embrace digital transformation and unlock a world of possibilities for enhanced efficiency, sustainability, and competitiveness.

However, the path to digitalization is not without its challenges, including financial constraints, expertise gaps, resistance to change, data privacy concerns, and interoperability issues.
To effectively navigate these challenges and accelerate the adoption of digital technologies, the textile and apparel sectors can implement strategic approaches that foster collaboration, knowledge sharing, capacity building, and government support.
Overcoming Financial Constraints:
Government Subsidies and Grants: Government agencies can provide financial incentives to incentivize the adoption of digital technologies, reducing the upfront costs for businesses.
Partnerships with Technology Providers: Collaborations with technology providers can enable access to affordable digital solutions and shared infrastructure, lowering the financial burden on individual companies.
Phased Implementation: Implementing digital technologies in phases, starting with pilot projects, can provide valuable insights and cost-effectiveness before a full-scale transformation.
Addressing Expertise Gaps
Training and Education Programs: Textile and apparel companies can invest in training and education programs to upskill their workforce in digital technologies.
Knowledge Sharing Platforms: Establishing knowledge-sharing platforms and communities within the industry can foster collaboration and the exchange of expertise.
Industry-Academia Collaborations: Partnerships with universities and research institutions can provide access to specialized knowledge and expertise in digital transformation.
Overcoming Resistance to Change:
Compelling Business Cases: Demonstrating the tangible benefits of digital technologies in terms of cost savings, efficiency gains, and improved customer experiences can encourage adoption.
Change Management Strategies: Implementing gradual changes and adopting a phased approach can minimize disruptions and ease the transition to digital processes.
Empowering Employees: Empowering employees with training and involvement in the digital transformation process can foster a sense of ownership and reduce resistance.
Addressing Data privacy and security concerns:
Robust Data Governance Frameworks: Establishing robust data governance frameworks and implementing stringent cybersecurity measures can protect sensitive data and build trust among stakeholders.
Transparency and Communication: Open communication regarding data privacy practices and transparent data handling protocols can alleviate concerns and build trust.
Compliance with Regulations: Adhering to data privacy regulations and industry standards can demonstrate a commitment to data protection and ensure regulatory compliance.
Overcoming Interoperability and Integration Challenges:
Standardization of Data Formats: Adopting standardized data formats and communication protocols across the supply chain can facilitate seamless data exchange and integration.
Interoperability Testing and Validation: Implementing interoperability testing and validation processes can ensure compatibility and efficiency between different digital systems.
Open-Source Solutions and Collaboration: Utilizing open-source solutions and fostering collaboration among technology providers can accelerate the development of interoperable solutions.
By embracing these strategies and overcoming the challenges, the textile and apparel industry can unlock the transformative power of digitalization, propelling it towards a future of enhanced sustainability, efficiency, and global competitiveness.
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India, that is Bharat

24 November 2023, Mumbai

The Value Fashion Market in Small-Town India

The value fashion market in small-town India is booming, fueled by rising incomes and consumer expectations. Zudio, the flagship brand of Trent, is a prime example of this trend, facing stiff competition from other prominent retailers.

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Zudio's Rapid Growth and Strategy

NZudio has experienced rapid growth since its launch in FY'17, expanding to over 350 standalone stores and generating revenues of Rs 3,540 crore. 

The brand's franchise-owned company-operated model has been instrumental in reducing inventory costs, attracting the attention of national retailers like Yousta (Reliance Retail), Style-Up (ABFRL), and InTune (Shoppers Stop) who have adopted a similar strategy.

Market Analysts' Forecast

Market analysts from Motilal Oswal Financial Services predict a steady 6 percent CAGR growth for the value fashion segment from 2020 to 2026. 

However, with rising disposable incomes and favorable demographic trends, the growth rate is expected to surge to a remarkable 23 percent CAGR.

Unorganized Dominance and Regional Retailers' Lag

Despite the segment's growth potential, unorganized retailers still hold a dominant position, accounting for nearly 57 percent of the market. 

Regional retailers have yet to make a significant mark in this domain.

5 key insights :

  1. Booming Market: Rising incomes and consumer expectations drive growth.
  2. Zudio's Success: Rapid growth, 350+ stores, Rs 3,540 crore revenue.
  3. Franchise Model: Inventory cost reduction, national retailer adoption.
  4. Market Forecast: 6% CAGR growth, potential for 23% CAGR.
  5. Unorganized Dominance: Regional retailers' presence limited.

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India's Textile Industry: A closer look

21 November 2023, Mumbai

The Indian textile industry, once struggling due to the pandemic and global economic downturn, has experienced a remarkable resurgence, reflected in the upward trend in stock market performance. 

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Major industry players have demonstrated strong financial results, attracting significant investor interest. This positive sentiment stems from several favorable factors:

  1. FTA-Driven Duty Benefits: India's forthcoming free trade agreements (FTAs) are poised to grant duty concessions to local textile exports, enhancing their competitiveness in global markets.
  2. Reduced Cotton Prices: The recent decline in domestic cotton prices has led to a substantial reduction in overall production costs, boosting profitability for textile manufacturers.
  3. Surging Demand for Home Textiles: The growing prevalence of hybrid work arrangements and increased emphasis on home improvement have fueled a surge in demand for home textiles, particularly cotton sheets and terry towels. This has driven up orders from US importers.
  4. Global Retailers' Inventory Optimization: Global retailers' efforts to streamline inventory levels have created opportunities for larger order placements from Indian textile exporters.
  5. Investor Optimism and Stock Market Surge: Anticipating favorable market conditions in the second half of the year, Indian textile exporters are optimistic about the future. This optimism is reflected in the recent rise of textile-related stocks, with companies like Raymond, Vardhman Textiles, Arvind, Trident, Gokaldas Exports, Welspun, KPR Mills, and Himatsingka Seide witnessing gains of 4 to 12 percent. Additionally, Fidelity Investments India's acquisition of a 1 percent stake in KPR Mill in August 2023 further underscores investor confidence in the sector's growth prospects.

These converging factors have propelled the Indian textile industry towards continued growth and prosperity, demonstrating its resilience, adaptability, and significant potential to contribute to India's economic resurgence.

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India's Textile Industry: A closer look

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