The global market for denim is forecasted to reach $64.1 billion by 2020. The Indian denim industry has shown continual growth over the years and currently the country boasts of a denim manufacturing capacity of around 1.1 billion metres per annum. Its utilisation levels are pegged at 80%-85%. Despite the impressive statistics, the Indian denim manufacturing industry contributes 5% to the global scenario, reflecting the overall performance of the textiles industry. However, according to industry experts, denim is the only segment in the Indian textile industry that has the potential to grow manifold.
Although India is the second largest textile manufacturer and also the second largest exporter globally, it contributes a minuscule 5% towards India’s overall exports. According to a report by UN Comtrade in 2013, India’s textile exports were estimated at $40 billion whereas China’s were pegged at $274 billion.
India offers numerous advantages to denim manufacturers. It is among the handful of countries that has a presence across the textile value-chain, from cotton to garments. In addition, it has a huge skilled workforce and offers quality products at competitive costs.
Most textile companies have adopted global standards of safety and environment compliance in order to remain competitive globally. Additionally, the country’s demographics with an expanding purchasing power and modernising fashion sense further contribute to the sector’s growth. In fact, India has been ranked as a top destination for retail investments among 30 global emerging markets.
Fonte: Pakistan Textile Journal
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