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

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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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