The Indian textile industry is one of
the most vital industries of Indian economy. Not only it contributes
to the country's Gross Domestic product (GDP) but also provide
employment to large number of people. Over the years, the Indian
textile industry has seen phenomenal rise growth and has succeeded
in attracting a considerable amount of FDI ( Foreign direct
investment). This industry is quite diverse and plays a significant
role in generating revenue to bolster economy. Export in this
industry has witnessed a massive growth for quite sometime. The
Indian textile and apparel export have been growing at an annual rate
of 10% since 2005. The country textile is exported to more than 100
countries across the world. The main markets are China, Bangladesh ,
Brazil, Saudi Arabia, Sri lanka, Canada, Egypt, Pakistan and Hong
Kong.
The export of garments from Indian
market place is practically 30% of the entire export taking place and
has turned out to be the second largest platform to offer employment
to the population. The apparel exporters from India are
helping people to improve their lifestyle. The textile sector has
emerged as a self-reliant medium for the country to utilize raw
supplies and provide employment to labors worldwide in current
market. This sector is offering a large expansion in terms of growth
and development thereby, making the rate of advancement far better
and swifter.
Thus, India has been able to attract
the buyers from all over the globe. The giant brands are looking
constantly to increase their sourcing from the Indian markets. The
export of apparel has turned out to be the primary foundation of
profits and has enhanced Indian garment economic climate for greater
potential.
No comments:
Post a Comment