The company said that its continued investments in innovation, sustainability, brands and emerging businesses place it in a strong position
As India’s textile sector enters a favourable phase, driven by global supply chain diversification, improving demand visibility and stronger sourcing activity, Welspun Living says that the company is well positioned to be a disproportionate beneficiary of this structural shift.
The company said that its continued investments in innovation, sustainability, brands and emerging businesses place it in a strong position to capitalise on these opportunities.
“India is at a genuine inflection point in global textile sourcing, and Welspun Living is well positioned to be a disproportionate beneficiary of this structural shift. We remain committed to accelerating growth, expanding margins, and creating long-term value for all our stakeholders,” stated Dipali Goenka, Managing Director and Chief Executive Officer (CEO), Welspun Living.
The company shared the findings of a report by Motilal Oswal, which highlighted that as global retailers look to reduce dependence on China and increasingly consolidate sourcing with large, compliant and scaled partners, India is well positioned to gain share in global textile and apparel trade.
The report identified home textiles as one of India’s strongest export segments and highlights premiumisation, value-added products, sustainability-led sourcing and brand penetration as key long-term growth drivers. The company added that with India accounting for only around 4 to 5 per cent of global textile and apparel trade, the sector offers significant headroom for market share gains.
The report also noted that recent trade agreements, including the India-United Kingdom (UK) free trade agreement (FTA) and the India-European Union (EU) trade deal are expected to further strengthen India’s competitiveness as a preferred sourcing destination.
Last week, the Ministry of Textiles conducted a two-day departmental summit on ‘textiles for global markets: strategy for achieving USD 100 billion exports by 2030’ in New Delhi. The summit aimed to chart a coordinated roadmap and increase textile and apparel exports from around USD 37 billion to USD 100 billion by 2030.
Addressing the inaugural session, Union Minister of Textiles Giriraj Singh emphasised the importance of district-led export growth, product diversification, value addition, technical textiles, creation of branded products for achieving the national export target.
