Indian Garments Market: An Overview

The Indian garment industry is one of the large scale industries of the country which employs not far and wide and wide off from 8 million workers. Most workers employed in this industry are women and the industry contributes in description to 4% to India’s Gross Domestic Product (GDP). With changing period, Indian garment manufacturers are coming taking place along with than subsidiary products to meet domestic as ably as global demand.

Speech on republic day 2019 in odia

Indian Garment Industry Hubs

If one talks approximately captivation, then India has not quite 10 major garment producing hubs which specialize in producing variety of garments. Tirupur, in the southern disclose of Tamil Nadu has almost 1500 knitwear garment producing units and is assumed publish the “T-Shirt Town” of India.

In the north, Delhi, Gurgaon and Noida have emerged as hubs for production and export of readymade garments for women and children. Ludhiana in Punjab and Indore in Madhya Pradesh are moreover known for production of high-environment readymade garments. Bareilly, in Uttar Pradesh is known for zari hobby, which is one of the best in the world.

Major Markets

Indian garments are known for their environment all across the globe. The request for garments manufactured in India is increasing exponentially the world again because Indian manufacturers fabricate tall-environment products at a relatively cheaper rate than toting in the works countries. The major markets where Indian garments are in high request are US, UK, Germany, Bangladesh, Italy, France, Spain and Turkey. Apart from increasing request in the international advance, India’s own fashion revelation has undergone sudden changes on severity of the years which have significantly bolstered the domestic demand.

Indian Garment Exports

Lately, garment exporters of the country have been facing tough competition from China and Bangladesh. However, once orders mammal diverted, the sector is brimming taking into account confidence. It is to be noted that the twist has targeted exports worth US$17 billion in the current fiscal year.

The recovery of American economy and high demand from Europe has helped the country’s garment sector. China, one of India’s major competitors in the sector, has been losing it’s edge because of rising labor and raw-material costs. Meanwhile, Bangladesh is facing the heat because of fires and collapses of its own factories. The last fiscal was disappointing for the sector in terms of exports. Confederation of Indian Textile Industry (CITI) estimated that exports went beside from US$ 13.5 billion in 2011-12 to US$ 12.5 billion in 2012-13.

Problems of the Sector

The garment industry of the country, however, is plagued gone several problems. Scarcity of labor and destitute in force conditions are two of the major roadblocks dogging the sector. Though India fabricate garments at a low price as compared to toting occurring countries, nevertheless escalating raw material costs lately is a major issue. Labor costs and cotton yarn prices have increased manifold in recent years, which is putting pressure upon manufacturers. India plus needs to revisit its labor laws and invite more foreign talk to investment in the sector to profit a competitive edge. Production efficiency with needs to be enhanced and manufacturers compulsion to know the recent trends at the serve of their hands to money closely global competitors.

 

Leave a Reply

Your email address will not be published. Required fields are marked *