Home textile industry to see 7-9% rise in revenues this fiscal: Report

The home textile industry is expected to see a 7-9% increase in revenues this fiscal year, following a decline of 15% in the previous year. The sector is benefiting from lower domestic cotton prices and restocking by big-box retailers in major overseas markets. The report by Crisil Ratings predicts that operating profitability will improve due to lower raw material costs, but it will still be below pre-pandemic levels. The industry's stable credit outlook is also attributed to improved operating performance. The US is the biggest market for the industry, accounting for more than half of its exports.