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Localization can make India the epicenter of global textile growth


Localization can make India the epicenter of global textile growthIn June this year, home textiles major Welspun India forayed into the health and hygiene vertical by creating antimicrobial towels, sheets and carpets. Besides, antiviral products, masks and other goods, the company also launched several sleepwear products. The company started by manufacturing masks and distributing it in its communities, notes Dipali Goenka, CEO and Joint Managing Director in an interview with The Economic Times. She believes the next generation of textiles will focus on value and extensions. And the importance of health and care economy will grow, be it in terms of product, food, FMCG or home space.

Demand for sustainable textiles to grow

Goenka emphasizes besides, health and hygiene, consumers will emphasize on sustainability in textiles which is the secondLocalization can make India the epicenter of global textile biggest polluter in the world. There will be increased demand for anti-viral fabrics that help in inhibiting the micro-organisms, says Goenka. According to her even sleep inductive textiles will become important as they will promote physical and mental well-being. Currently, there is a surge in demand for home textiles with all of Welspun’s factories working at full throttle. The company is highly dependent on MSMEs and hopes to make it the foundation of its future business.

Textile industry to save India from COVID-19 downfall Goenka expects India to create 90 million non-farming jobs in the next couple of years. According to her, textile is the biggest employer after agriculture in the country. Hence, the industry needs to create an ecosystem to make India an important growth center for textiles. Industry leaders need to focus on localization which will help India become the bright spot of the textile world, she adds.

Textiles will also become an important industry for India in the next two years as more people will move towards non-farming jobs. Demand for home textiles will rise as consumers will spend more time at home, adds Goenka. The textile industry will emerge as a savior from the current crisis as India not only has the required manpower, technical knowledge and vertically integrated facilities but is also the largest producer of cotton in the world after China, she says.