The Indian textile industry, one of the oldest and most significant sectors in the country, has long been a cornerstone of the economy, providing employment to millions and contributing substantially to India's GDP and exports. In recent years, the landscape of this industry has been rapidly evolving, driven by a surge in innovation and entrepreneurship. This transformation is being catalysed by a favorable policy environment and initiatives such as Startup India, aimed to nurture innovation and startups across various sectors, including textiles. India's startup ecosystem has emerged as one of the largest, globally, boasting over 1,40,000 registered startups. India's ascent in the Global Innovation Index (GII), from rank 81 in 2015 to 40 in 2023, highlights a paradigm shift, wherein the youth is aspiring to be job creators. The synergy between traditional strengths and modern entrepreneurial zeal is positioning the Indian textile industry not just as a manufacturing hub, but as a global leader in textile innovation.
This story is from the New Delhi 26September2024 edition of Millennium Post Delhi.
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This story is from the New Delhi 26September2024 edition of Millennium Post Delhi.
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