On 26th September, 2019 SDC organised a half day seminar at Thane, where Mitesh Shah from SF dyes and Sunil Sharma of Archroma presented the innovations in the field of textile processing. As per the presentation, the global apparel consumption in 2017 is estimated to be $1.8 trillion, which formed around 2 percent of the world GDP of $79.3 trillion. The apparel consumption is forecast to grow at a CAGR of 4 percebt and reach $2.6 trillion by 2025.
It is expected that the market growth rate of developed countries will slow down whereas large emerging economies will be the key drivers of growth. China and India, with a large population base, will be the fastest growing markets in the segment. To gain maximum out of this opportunity, India must build an ecosystem to achieve global standards by improving manufacturing practices, enhancing labor skills, stricter adherence to compliance and regulations and improving logistics and connectivity. Presentation elaborated concepts and innovations from Archroma, global leader in textile wet processing solutions.
