The home textile industry in India has a rich history and has been a significant contributor to the country’s economic growth for several decades. With the industry currently valued at $17 billion, there is no doubt that it holds immense potential for further growth and development.
Home Textile Brands In India Are Leading Globally
Home textiles in India are in a prominent position as one of the leading manufacturers of textiles and apparel globally. This can be attributed to the use of high-quality fabric and affordable pricing that makes it a popular choice for consumers across the world. The home textile manufacturers in India boast several remarkable facts, some of which are highlighted below:
- The Indian textile industry is a vital component of the country’s economy, and in 2021, it was valued at an impressive $223 billion. This industry has a rich history and has been a significant contributor to India’s growth and development for several decades.
- India’s abundant supply of cotton has contributed to the country’s prominence as a textile manufacturer. Jute, on the other hand, is a vegetable fiber that is commonly used for making products such as sacks and bags. The country’s favorable climate conditions make it an ideal location for the cultivation of these fibers.
- Home furnishing textiles have a long-standing tradition in India, and the country is a significant contributor to 95% of the world’s production.
Home Textiles Towards a Sustainable and Digitally Advanced Future
- The growing need for environmentally friendly and sustainable goods is one of the significant trends that will influence India’s home textile business in the future. Customers are becoming more ecologically aware and seeking out goods made with spunlace fabric, sustainable methods, and resources. With eco-friendly products and sustainable production techniques, the industry is already reacting to this demand.
- One of the emerging trends that will significantly impact the future of India’s home textile industry is the rising demand for digitally printed textiles and spunlace non woven fabric. With advancements in digital printing technology, manufacturers can now produce highly intricate and detailed designs at a faster rate and with unparalleled precision.
- Environmental, social, and governance (ESG) initiatives are gaining momentum worldwide, as investors, companies, and consumers recognize the need for sustainable business practices. In this context, Welspun, a leading manufacturer of home textiles in India, has emerged as a trailblazer in ESG initiatives.
The Future of Home Textile Manufacturers in India
Indian textile company exhibits steady growth over the past three decades and is poised to maintain its positive momentum, with an anticipated annual growth rate of 8-10 percent in the coming years. This growth rate is nearly double that of the global market, indicating India’s increasing importance in the global textile industry.
As a developing country, India continues to strive towards meeting its basic needs, including food and clothing. However, the country’s economy is also steadily advancing, with annual GDP growth of 7-9 percent. This has resulted in a growing number of Indians being able to allocate more of their income toward areas such as fashion, housing, and interior design.
The increase in disposable income has led to a surge in demand for high-quality and trendy sustainable textiles, presenting a significant opportunity for manufacturers and retailers in India. The textile industry is a key contributor to India’s economic growth and job creation, making it a crucial sector to watch in the coming years.
The Future of Leading Home Textile Company in India
- Welspun India has formulated a sustainability roadmap for the next decade, with well-defined objectives and targets. Among these goals, we strive to achieve complete reliance on renewable energy and sourcing of 100% sustainable cotton by 2030, among other sustainability targets.
- The company has established a goal to attain 100% renewable energy by 2030 and is dedicated to meeting the SBTi Net Zero objectives while planning to decarbonize its operations.
- In the next few years, Welspun India aims to completely eliminate the disposal of hazardous waste in landfills. Furthermore, they ensure that non-hazardous waste generated is systematically segregated and managed according to its specific type.
- To attain our objective of becoming carbon neutral by 2030, Welspun India is taking steps to decrease our energy usage and investigating alternatives to conventional energy sources, such as renewable energy.
Conclusion
Due to three key factors – increasing incomes, growing consumer aspirations, and a surge in construction and housing in the country – per capita consumption of home textiles in India is anticipated to increase significantly. The industry and trade must work together with urgency to realize this potential and expedite the process.
Overall, the future of India’s home textile industry looks bright, with immense potential for growth and development. And with Welspun India leading the way in sustainable practices and technological advancements, the home textile company is well-positioned to meet the changing demands of consumers and the market.
Welspun India aims to build a world where everyone prospers. By concentrating on environmental issues, education, women’s empowerment, and community healthcare as part of our business social value creation vision and sustainability efforts.
Lisa Eclesworth is a notable and influential lifestyle writer. She is a mom of two and a successful homemaker. She loves to cook and create beautiful projects with her family. She writes informative and fun articles that her readers love and enjoy.