Indian textile indutry - 2009 the year of Innovation & Marketing

The Indian Industry is slowly and steadily adjusting to the turmoil of Global slow down and finacial crisis. The large domestic demand with prosperous middle and rural class will sustain the textile Industry. The Governament of India stimulus packages and favourable RBI monetory policies should encourage the Banks to ease their lending norms to the industry. However overall growth will be under pressure. The recession and financial crisis in US and Euro zone will effect the exports,which form a large portion of our export basket.

The loss of jobs cannot be avoided in the garment and apparel sector. Innovation and marketing is need of the hour and industry should find ways and means to sustain and wait for the upturn.

Key to sucess will be Innovation in marketing and productmix. The year 2009 will be a a period of consolidation and Innovation