Textile sector's growth to continue next fiscal as well: CRISIL SME Tracker

Margins will continue in the 10-12 per cent range in FY23 as well

The Indian textile industry, which has a significant presence of micro, small and medium enterprises, is expected to close the current fiscal year (FY22) on a strong note (on the pandemic-hit previous year’s low base), and continue to grow next fiscal (FY23) as well.

Demand for textile products has recovered, with economic recovery and wider coverage of vaccination in domestic and international markets alike. Additionally, Indian exports have got a boost owing to the US ban on China’s Xinjiang cotton, and are likely to continue growing in the medium term. The impact of the Russia-Ukraine crisis remains a monitorable, though.