The Indian textile industry has become a hotbed of investment for both domestic and international investors and is one of the fastest-growing industries in the country. In ancient times, the manufacturing industry was a primary source of income for labor, whether skilled or unskilled.
Over a period of years, the industry has seen huge growth and employment rates. In the 2021 financial year, the market cap of the Indian textile industry is estimated to be around $223 billion (US). Compared to the previous year, this was a significant increase when the market cap was $150 billion (US).
At present, the textile industry is the 2nd largest employment industry in India, with 35+ million people with direct employment opportunities. Among all the states, Mumbai has witnessed a big hit in the textile industry by housing thousands of textile companies. Let’s discuss the top textile manufacturers/companies in Mumbai:
List of Best Textile Companies in Mumbai
1. Raymond Limited
Established in the year 1925, Raymond Limited is one of the biggest textile companies based in Mumbai, Maharashtra. Inside the country, it has up to 60% market share in suiting. Besides India, the company supplies its goods to over 55 countries, such as Europe, Canada, the United States, and the Middle East.
In the year 2015, the company was listed as the most trustworthy apparel manufacturer in India by the brand trust report. Raymond Limited has spread its network in more than 150 cities across India. It is one of the textile companies offering over 20,000 designs and colors of suiting fabric, which makes it one of the largest collection and Design companies. (Revenue: $ 800 million)
2. Grasim Industries Limited
As a part of the Aditya Birla Group, Grasim Industries Limited has become popular among Indian users. This Indian manufacturing company is headquartered in Mumbai, Maharashtra. Founded in the year 1947, the organization is known for being a reputed and premium textile manufacturer.
Grasim has been categorized into raw materials, such as Viscose filament yarn, viscose staple fiber, insulators, and chemicals. With about 24% market share, it has become the largest producer of viscose rayon fiber. Textiles and allied goods account for 15% of the company’s total turnover. As of 2022, the company’s revenue was projected to reach Rs 96,000 crore.
3. Bombay Dyeing
The flagship organization of the Wadia Group, Bombay Dyeing, is primarily indulged in the venture of textiles. It is considered the largest producer of textiles in India. Founded in 1879, the company has a presence in over 600 spots across the United States. Indian chemical and Textile industries can’t complete without Bombay Dyeing.
An exclusive range of goods by Bombay Dyeing includes polyester & cotton suiting, duck textiles, shoe linings, yarn-colored clothing, satin furnishings, towels, satin bedding sets, napkins, and other goods. With 5 facilities, the company is expanding its business day by day even after meeting international standards.
4. Siyaram Silk Mills Limited
Also known as SSM or Siyaram’s, Siyaram Silk Mills Limited are the largest Indian garment and blended fabric producer and supplier. Their goods are being distributed through branded showrooms and retail outlets in the country. Founded in the year 1978, the organization fabricates and sells ready-made men’s & women’s apparel, fabrics, yarns, and home furnishings.
With over 170 branded showrooms in association with 1 lakh retail stores, the brand has spread its business widely. As per the source, the net profit of the company in the year 2014 was up to Rs.20 crores. The revenue was collected by selling cloth, fabric, and thread. However, the total knitting capacity of the brand is 80 million meters, while the garment capacity is 40 lakh/piece annually.
5. Damodar Industries Limited
Damodar Industries Limited was established in the year 1987 as a private organization. It is a leading manufacturer of synthetic blended yarns. On 20th March 1992, the organization was altered into a public limited company. Since its inception, it has developed its production capacity and is one of the largest manufacturers in recent times.
DIL has introduced various new goods with different looks and blends. The organization houses spinning machines, such as Hollow Doubling, Fancy Doubling, TFO, Multicolor space dyeing, etc. The organization has now developed to become one of the biggest commodity and fancy yarn-producing companies in India.
6. Trent Limited
Originally founded as Lakme Limited in the year 1952, Trent now has become the largest manufacturer of soft goods, cosmetics, perfumery, and toiletries products. As a major part of the TATA Group, the flagship concept of Trent is to provide a large number of footwear, fabrics, and accessories, along with an exclusive range of décor and home furnishing. It is amongst the top 500 textile and fabric companies in India.
7. AYM Syntex Limited
AYM Syntex Limited, previously known as Welspun Syntex Limited, led in the draw twisting, texturizing, spinning, and dyeing of nylon and polyester yarns. It is among the worldwide leader in producing multi-polymer and specialty yarns.