The Indian home textiles supported by growing household income, increasing population, rising income levels, increase in organized retail and growth of end use sectors like housing, hospitality, healthcare.
India accounts for 7% of global home textiles trade & 2% of India’s GDP and 15% of the country’s export earnings. Superior quality makes companies in India a leader in the US and the UK, contributing two-third to their exports. One of the major productions and export centres for home textiles.
Traditional craftsmanship along with its distinctive appeal is being effectively used for producing value-added home textile items leading to India’s growing recognition as a preferred sourcing destination for these products.
The rich and diverse geographical conditions in India and availability of raw material such as cotton, wool, silk, etc. is in abundance wherein it provides an inbuilt platform for manufacturers the business prospects in India. To add to it, the labour is relatively cheap and skilled artisans are in plentitude which makes home textiles in India a favourable market.
Fashion sensitivity towards household furnishing has increased as fast-fashion has hit not only the apparel market but the home market as well.
Home fashion has become a separate segment as consumer consciousness towards high-quality living has increased. Bed linen includes bedspreads, blankets, mattress, mattress cover, pillows, duvets, duvet covers, and bed covering, and others. Bath linen includes bath robes, bath towels, and bath mats, and others. Demand from Hotels, Motels, Airplane, Shipping (Cruiseliner), Hospitals etc. added advantage to this sector.
Road Ahead
Factor like uneven rainfall, climatic change hampers the pricing of raw material. Going forward the growth could be expected to be in range of 15-20%.The Industry is consumer centric and demand has to remain forever.
BENEFICIARIES: WELSPUN, TRIDENT, ARVIND LTD, VARDHMAN TEXTILES LTD, HIMATSINGKA SEIDE LTD.
