The Crouching Tiger – A report on Startups in Textiles
Clothing being one of the essential requirements of mankind, the textile sector is thus inextricably intertwined in daily lives. The textile sector continues to play a major role in modern India, and contributes significantly to the GDP and provides substantial employment (specifically to women in smaller towns). The recent emergence of technical textiles as a separate category with high growth potential has given a big fillip to the fluctuating fortunes of the traditional segments in the Indian textile sector.
The textile sector is today at the cusp of the traditional and modernity. Technological advancements, changing consumer tastes, and market opportunities are relentlessly pushing the sector to embrace innovation with a velocity that has never been experienced before. This provides a great opportunity for start-ups in the textile sector. While the 4800+ existing textile start-ups augurs well, potential exists for several thousand more. This report explores the intersection of startups within the textiles industry and highlights the growth and funding trends, impact and potential.