| | JUNE 20218T he Covid-19 pandemic had a lasting impact on the textile industry, while from a global perspective, it accounted for $594.61billion in 2020, in 2021 it is expected to in-crease at a CAGR of 10.1%, i.e., accounting for $654.57 billion. The growth is mainly because of textile companies rear-ranging operations and recovering from the Covid-19 impact, which earlier led to restrictive containment measures which included social distancing, remote working, and closure of commercial activities which resulted in operational challeng-es. The global textile market is expected to reach $821.87 bil-lion in 2025 at a CAGR of 6%.In 2020, Asia Pacific accounted for 51% of the global tex-tile market, while Western Europe turned out to be the second largest, accounting for 17%.Being a major contributor to the Asia Pacific region, the Indian Textile Industry is one of the country's largest and richest industries, forming an integral part of the modern so-ciety. It has evolved to become self-reliant and independent. Contributing nearly 2.3% to the GDP of India, and 13% to the export earnings, the Textile Industry is the second largest in-dustry generating employment in the country.The industry is known for being diverse, with hand-spun and hand-woven sectors at one hand and capital-intensive mills sector on the other. Decentralised power looms/hosiery and the knitting sector form the largest component in the tex-tiles sector. The industry houses an equitable mix of organ-ised and unorganised markets. India's textiles industry has the capacity to manufacture a wide range of products suitable to the both domestic and international markets.THE EVOLUTION OF TEXTILE MANUFACTURINGBy Rajendra Agarwal, Managing Director, Donear Industries Ltd.VANTAGE POINTRajendra Agarwal, Managing Director
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