ANNUAL REPORT Indian Textile and Apparel Industry 2021
ANNUAL REPORT
Indian Textile and Apparel Industry 2021
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Content
Global GDP Global Textile & Apparel Industry Overview Indian Textile & Apparel Industry Overview Impact of Covid on Indian Textile & Apparel Industry Indian Textile Industry: Structure and Supply Scenario Financial Health of Indian Textile Industry
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2020: A year that was
? The year 2020 has been the most challenging year in our lifetimes. What started as a promising year for our industry quickly turned into a difficult one. COVID-19 pandemic brought the entire world to a standstill, equitably affecting markets and supply chains globally.
? Consumer purchase of textile and apparel were hit badly due to the global lockdowns and economic recession. The global apparel consumption is estimated to have shrunk by 22% in 2020. However, 2021 looks brighter given the onset of vaccination drives, growth in e-commerce sales of apparel, and resumption of global supply chains.
? We present to you our review of the Indian textile and apparel industry in 2020. This document covers key industry statistics - consumption, production, export, import, and financial health.
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Global Industry Overview
2
Global GDP Contraction
Annual GDP Change (%)
Country
China EU US India World
2019
6 1.3 2.2 4.2 2.8
2020
Pre Covid Forecast
Revised Estimate
6
2.3
1
-7.2
1.7
-3.4
5.8
-8
3.3
-3.5
2021
Pre Covid Forecast
Revised Forecast
5.8
8.2
1.5
4.2
1.8
5.1
6.5
11.5
3.3
5.5
Data Source: IMF World Economic Outlook Update, January 2021
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