As the home textile market continues to boom, 聽many major home textile producing countries are fighting hard to expand their presence in the global home textile market. With newly announced government initiatives to support home textiles exports, India 鈥� currently the world鈥檚 second largest home textile producer behind China 鈥� is expected to outperform China, and become the world鈥檚 number one home textile supplier in the coming years.
According to the figures released in the world鈥檚 leading home textile and furnishing fair Heimtextilin, India鈥檚 home textile industry currently estimated at USD 4.9 billion and it is expected to expand at a CAGR of 8% to reach USD 5.29 billion by the end of 2018. Curtains & upholstery and rugs & carpets will be some of the top growing home textile categories in the coming year, posting a CAGR of 8% and 9.4% respectively.
Today, India is responsible for almost 21% of the towels in the global market, and a 19% share in the global bed linen market. India is also one of the top suppliers for the world鈥檚 biggest home textile consuming market, being the US. Increasing efforts in quality improvement, innovations through R&D programs, and other preferential value-added features have helped India鈥檚 home textile products become more popular in the global market.
Last year, the government of India launched a new initiative to further support the Made-up sector in the country. Under this new initiative, the Made-up sector in India, which include products like towels, bed sheets, blankets, curtains, crochet laces, pillow covers, embroidery articles and other home textile items, will get production incentives and subsidies similar to what the garment sector gets.
These incentives as part of the Rs 6,006 crores package announced for the apparel sector last year are expected to further help India鈥檚 home textile sector in terms of creating more jobs, earning more foreign exchange and investing for new technology and innovation in fabric and yarn sectors. The home textiles sector in India is already the second largest employment source in the country鈥檚 textile industry after the apparel sector. Industrial experts believe that the strong government support will help India become the world鈥檚 largest home textile producer in near future.
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