Textile & apparel sector confident of doubling biz

Nearly three-fourths of the textile and apparel firms are confident about doubling their businesses in the next five years considering the positive trend prevailing in the export market in the post-Covid business Environment, revealed a survey conducted by the Indian Texpreneurs Federation (ITF).

As many as 257 companies across the state participated in the survey, which was conducted to understand the Growth aspirations of the textile and apparel sector. About 76% of the firms were confident of doubling the current business in three to five years with the new cycle. This shows a positive change in the business environment of Tamil

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Roughly 40 or 16% of the companies surveyed, showed keen interest to explore the IPO option. While the market capitalization of Indian Equity markets crossed Rs 240 lakh crore, the combined market cap of listed companies in the textile and apparel sector is only 2.2 lakh crore. The Capital Market is growing at a rapid pace and the textile sector is also getting a lot of interest and attention from investors with valuations rallying upwards.