That may be true for apparel, but the textile industry also encompasses making cloth, and the modern industry these days to make cloth is anything but "low skilled and labor intensive". The machinery to make cloth is generally made in Japan or Europe, and is expensive. (I just did a quick Google search, and it looks like the Indian companies are also trying to move into the business of selling this machinery too. Not surprising I guess since India is also a major textile manufacturer. I also saw some Chinese gear, but my assumption would be that those machines are just a crude, low-priced rip-off.)
Japan, which has comparable pay scales to the U.S. is still doing a good business making high quality cloth, and I think we can also. We even have a significant advantage over Japan in that we produce locally much of the inputs that they must import to produce textiles.
We have an advantage right now in that we can raise capital to buy equipment. And in addition we can put them right next to the market, and most likely next to the design places.