Significance of textile and related industries and its growth

About the textile and shoemaking sector
The main industry of textile, clothing, leather and footwear is characterized by the geographically dispersed manufacturing and the market, employment opportunities for the workers. The industry is ready for highly skilled and qualified workers and sophisticated machinery to cater to the demand of the rising expectations of the market. The Indian textile industry comprises of readymade garments, cloth, and various other clothing. Every sector is in demand, and there is a large market for the clothing and textile industry all over the world. The textile industry is a single largest industry in India that accounts for 20% of the total industrial production. Around 20 million people are directly employed in India. The exports account for one-third of the exports of the country. The sIndian textile sector is predominant as it is based on cotton and cotton is the main raw material that contributes to around 65% of the clothing sector. The raw material is easily available here and thus is related to agriculture closely. The readymade garments are highly in demand these days due to the trendy market on the rise and increased globalization and the online shopping sector as well.
The footwear and leather industry
The footwear industry is performing strongly and is predicted with constant value CAGR of 7 % growth and by 2019, the sales are expected to reach Rs. 860 billion. The government has announced various initiates for the industry with the budget of the current year that includes the excise duties. The entrance of foreign companies in the industry will also change the industry positively with exports getting more preference that will influence the Indian revenue. Footwear is also reaching far and wide in the world.
Kompass portal
The B2B portal of Kompass is a great option to expand the business in the right way and easily. All you have to do is to get listed on the portal, and you will start receiving clients.
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