After being outpaced by Bangladesh and Vietnam and hammered by the COVID-19 pandemic, India’s garment factories are slowly coming back to normalcy. The textile industry is also facing challenges like rising cotton prices and labor shortages. Despite all this, the sector has the potential to raise its exports from the current $40 billion to $100 billion in the next five years. The country’s apparel industry can focus on vertical integration to increase its scale and size and benefit from the production-linked incentive (PLI) scheme, which was started by Textiles Secretary Upendra Prasad Singh at the 44th Foundation Day of Apparel Export Promotion Council (AEPC).
Source- Economics Times
