Coimbatore: Nearly three quarters of textile and clothing companies are sure about doubling their business in the next five years given the positive trends that apply in the export market in the post-Covid business environment, revealing a survey conducted by the Indian Texpreneurs Federation (ITF).
As 257 companies throughout the country participated in the survey, which was conducted to understand the aspirations of the growth of the textile and clothing sector.
About 76% of the company believes to double the current business in three to five years with a new capital expenditure cycle.
“This shows positive changes in the Tamil Nadu Tamil and Clothing Sector business environment,” said ITF Conveniror Prabhu Dhamodharan.Boughly 40 or 16% of the companies surveyed, showed an IPO interest to explore the IPO option.
While the Indian equity market market capitalization crosses Crore Rs 240 Lakh, close the combined market from companies registered in the textile and clothing sector only 2.2 lakh crore.
The capital market grows at a fast speed and the textile sector also gets a lot of interest and attention from investors with the rally upward assessment.
“Itf will guide companies interested in making value-added products, making platforms to allow the next generation to involve, and guide companies to enter the equity market in a structural way,” Prabhu said.
Prabhu opportunities for Indian players in the export market, structural reform from the center and new encouragement from the Tamil Nadu government to support the manufacturing sector some of the main reasons for the aspirations of the growth, added the survey.