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India, the second-largest producer of textiles and
garments, has been eyeing to be a sourcing hub, riding on the back of a skilled
labor force and opulence of cheap raw materials. With Indian Textile Industry
accounting for a quarter of the global spindle capacity, its potential size is
speculated to reach US$23 billion by the end of this decade.
Being the second largest employment
generating sector in the country after agriculture, Textile Industry has got a
huge bearing on the country’s economy. Hence, a holistic development of this
sector is imperative for GDP expansion. Infusing the right kind of technology
with this industry is definitely the roadmap to tap the entire market
potential.
