Govt initiatives to boost 8% CAGR growth and exports.

India, which is expected to reach US$5.29 billion by 2018 on CAGR of 8%, is threatening China for title of largest home textile producer, says a report by Toronto-based BizVibe.

The Indian home textile industry, currently valued at US$4.9 billion, is rated as second to China.

Newly announced government initiatives supporting home textile exports are promising to help India overtake global leader China over the next few years.

Last year, the government of India launched a new initiative to further support the made-up sector. The made-up sector includes products like towels, bed sheets, blankets, curtains, crochet laces, pillow covers, embroidery articles, and other home textile items, and under this initiative will receive production incentives and subsidies similar to those the garment sector currently benefits from.

BizVibe is home to over 100,000 textiles companies and has over 7 million profiles across 700+ industries. fii-news.com