Textile Sector: Do you own any of these multibaggers that soared up to 1,700 per cent?

Here is a list of the top textile sector multi-baggers that impressed investors with their outstanding returns!

India’s textile industry is one of the oldest industries in the Indian economy. It has strengths across the entire value chain from fibre, and yarn to fabric. It is highly diversified with a wide range of segments ranging from products of traditional handloom, handicrafts, wool, and silk to the organised textile industry.   

India is the largest consumer and producer of cotton with a huge acreage under cotton cultivation. It is the second-largest manufacturer of polyester, silk, and fibre in the world. Also, the Indian textile sector is the second-largest employment provider in India after agriculture. It supports nearly 4.5-5 crore people in allied sectors, including 35.22 lakh handloom workers across the country.  

Under the aegis of Union Budget 2022-23, the government has allocated a sum of Rs 12,382 crore for the textile sector. The government has also allowed 100 per cent foreign direct investment (FDI) in the sector under the automatic route.   

Seeing the future potential, the Indian textile companies have already lined up investments for future capacity expansion. Companies like Trident, KPR Mills, Indo Count, Raymond, and Mafatlal have announced significant investments in areas like home textiles, denim & garments. On the other hand, Indian players such as Arvind Mills, Welspun India, Alok Industries, and Raymond have established themselves as 'quality producers' in the global market. This recognition would further enable India to leverage its position among global retailers.   

To promote exports, the government has drafted several policies for the textile sector. For the export of handloom products, Handloom Export Promotion Council (HEPC) is participating in various international events with handloom exporters to expand its global reach.   

Here is a list of the top textile sector multi-baggers that impressed investors with their outstanding returns!  

Data as on September 15, 2022

Stay tuned to know more about the prospects of various industries and the potential multi-baggers in those areas!