Textile industry in india provide 21 percent employment (105 million – second largestemployment provider next...

The Economic Survey 2015-16 has stated that India has emerged as the fastest growing economy among other economies. India has become a dream market for most marketers across many products segments. In textiles and apparel specifically, domestic consumption has grown at over 13 percent per annum over the last five years, fuelled by the demographic advantages of India’s population, increasing urbanization, growing disposable income and higher marked penetration of organized retail. India’s export of textiles and apparel has also grown at over 11 percent in the last five years. The Ministry of Textiles is in the process of redrafting the new Textile Policy 2016 which is likely to offer impetus to the Industry to grow further.

Raymond to replace 10,000 jobs with robots in next 3 years

Textile major Raymond is planning to cut about 10,000 jobs in its manufacturing centres in the next three years, replacing them with robots and technology. Explaining the move, Raymond CEO Sanjay Behl said the company employs over 30,000 staff in their 16 manufacturing plants in the country. "Roughly 2,000 work in each plant to scale down the number of jobs to 20,000, through multiple initiatives in technology. One robot could replace around 100 workers. While it is happening in China at present, it will also happen in India," he said, adding that the sector was very manpower intensive.