In the last article, Embracing ESG Integration, we wrote about the need and challenges faced by Indian Micro Small and Medium Enterprises (MSMEs) in integrating sustainability. Continuing the theme, we now dive deeper, with this article on the textile and apparel (T&A) MSMEs in the country.
Why the Indian Textile and Apparel (T&A) MSME industry?
The T&A industry plays a significant role in the Indian economy by contributing 10.5% of the total exports from the country and providing livelihood to millions of people (Ministry of Textiles, 2021-22). In the global landscape as well, the Indian T&A industry is highly valued as it is the 3rd largest exporter with a share of 4.6% of the global T&A trade. India’s unique advantage is largely due to the presence of all key raw materials and skilled workforce in the country. India is one of the largest producers of cotton and jute, engaging more than 60 million people in farms and mills associated with these products. We are also the second largest producer of silk and man-made fibres.
The high value of the Indian T&A industry is not only provided by the larger firms but a significant share also comes from the MSMEs in the country. Multiple clusters of T&A production are present across the country with the majority of units in these clusters falling under the MSME categorisation. The annual report on MSMEs in India also mentions textiles among the top five industries within the manufacturing sector of MSMEs. Given the importance of this segment to the Indian production and export economy, the evolving sustainability requirements at a global level also need to be integrated into the MSMEs to ensure sustainable growth of the T&A industry.
Read more about the ESG integrations among MSMEs in India, here:
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