The home textiles industry in India is worth Rs.17, 000 crores. The home textiles such as bed linen, towels, hand towels, carpets, rugs, quilts, mattresses, cushion covers, bed sheets, etc. are the prime products of this market. The home made textile market in India is expected to grow as the demand both within the country and overseas is expected to rise. Heavily unorganized market, Indian home textile market is an untapped potential for the organized players in the trade.
The Textile ministry of India has a utopian and promising vision for the home textiles segment as the trade agreements with EU and other major trade organizations are in the talks so as facilitate the ease of doing business. India also houses of the major home textile manufacturer in India i.e. Welspun.
The rich and diverse geographical conditions in India are like benison in disguise. The availability of raw material such as cotton, wool, silk, etc is in abundance wherein it provides an inbuilt platform for manufacturers and traders to commune the business in India. To add to it, the labor is relatively cheap and skilled artisans are in plentitude which makes the hand woven home textiles in India, a must have product.
The demand for Indian handmade carpets is rising in majority of countries in European Union. Handmade carpets are irreplaceable by machine made carpets which makes it seemingly monopolistic segment in the home textile domain.
Hand towels, towels, and other hosiery textiles are 2nd largest exported products in US markets. The desire to give their homes a personal touch will always act as a driving force in the development of home textile industry as the latest designer patterns in almost every product in home textiles motivates the traders and manufacturers to cater to the vast demands of the large buyer based global market.
The hegemony of a single factor in any business is harmful and hampering to any sector. The rule is no exception to the home textiles as well. Due to lack of competitive markets in US and EU, the Indian markets are favored due to cheap labor costs, supreme quality raw materials and the innovative designs which surely speak for the trend statement of the nation. China, Pakistan and India cover up maximum of the global import market constituting almost 70% of the market size. But due to rising labor costs in China and the war driven economy of Pakistan, India is the only major player in the league now.
The bed linen manufactured by us is the best competitive product to the one manufactured in Japan. The carpets manufactured in India which are mostly hand woven and are of natural fibers have long durability, are easy to wash and require little to no maintenance, the towels and hand napkins are the cheapest and are the most inexpensive units of the home textile domain in India. The latest technology machines and power loom mils have ensured India's success in the home textiles market and have cemented the position of India as the leading global exporter of home textiles.
The differentiating factor in India's product base was the value addition that was done upon the products that were manufactured and that was the prime reason for the Indian products to survive the cut throat competition is because of going an extra mile!
The textile ministry has announced a special package for home textile industry for Rs.6000 crores in order to expand and develop the sector by also arranging the means and methods to organize the market.
The craftsmanship, the artistic touch, the pastel work, jacquard print and many other indigenous designs are promoted and developed in the home made textiles market in India. It makes the overall scenario promising and investor friendly. The potential is untapped and the market conditions are favorable. The present market cap of $4.2 bn is expected to rise up to the target of $9 bn industry by 2020.
The large chain of wholesalers, retailers, suppliers and manufacturers in the plethora of homemade markets has made Indian market an all inclusive and export oriented market in the global arena.