Garment Industry
INTRODUCTION
The textile industry has an overwhelming influence in the economic development of India.
Through its contribution to the industrial output, employment generation and export earnings, the industry plays a very important role in the Indian economy. Currently, it contributes about 14 percent to industrial production, 4 percent to the GDP, more than 12 percent to the country’s export earnings, and provides direct employment to over
35 million people. Post MFA (Multi
Fibre Arrangement), the Indian textile and clothing industry has been growing and has made India as one of the league countries involved in export of textile as well as apparel products.
GLOBAL SCENARIO
The removal of quotas has been advantageous mainly to the developing countries, which were the main exporters of textiles and clothing products. The world textile and clothing exports grew by 9.7% in 2006, to US $ 530 billion. Of the total exports, textiles accounted for
US $ 219 billion and clothing for the remaining US $ 311 billion.
The world’s largest exporter of textiles (excluding clothing) as a region was EU25, whereas in case of individual countries, China was topping the list with US $ 48.68 billion, followed by Hong Kong (US $ 13.91 billion), USA (US $ 12.67 billion) and
South Korea (US $ 10.11 billion).
India stood at the 6th position with
US $ 9.33 billion worth exports of textiles in 2006. In case of imports of textiles too EU25, as a bloc, was leading the list with US $ 70.43 billion followed by USA (US $ 23.5 billion),
China (US $ 16.36 billion), Hong
Kong (US $ 13.98 billion), and Japan
(US $ 6.18 billion) USA was the largest importer in the case of individual countries. India stood at the 14th position with regard to import of textiles by individual countries, with a mere US $ 2 billion.
Developing countries were making an impressive stride in the clothing exports, as has been in the textiles exports. China was the
The textile industry has an overwhelming influence in the economic development of India.
Through its contribution to the industrial output, employment generation and export earnings, the industry plays a very important role in the Indian economy. Currently, it contributes about 14 percent to industrial production, 4 percent to the GDP, more than 12 percent to the country’s export earnings, and provides direct employment to over
35 million people. Post MFA (Multi
Fibre Arrangement), the Indian textile and clothing industry has been growing and has made India as one of the league countries involved in export of textile as well as apparel products.
GLOBAL SCENARIO
The removal of quotas has been advantageous mainly to the developing countries, which were the main exporters of textiles and clothing products. The world textile and clothing exports grew by 9.7% in 2006, to US $ 530 billion. Of the total exports, textiles accounted for
US $ 219 billion and clothing for the remaining US $ 311 billion.
The world’s largest exporter of textiles (excluding clothing) as a region was EU25, whereas in case of individual countries, China was topping the list with US $ 48.68 billion, followed by Hong Kong (US $ 13.91 billion), USA (US $ 12.67 billion) and
South Korea (US $ 10.11 billion).
India stood at the 6th position with
US $ 9.33 billion worth exports of textiles in 2006. In case of imports of textiles too EU25, as a bloc, was leading the list with US $ 70.43 billion followed by USA (US $ 23.5 billion),
China (US $ 16.36 billion), Hong
Kong (US $ 13.98 billion), and Japan
(US $ 6.18 billion) USA was the largest importer in the case of individual countries. India stood at the 14th position with regard to import of textiles by individual countries, with a mere US $ 2 billion.
Developing countries were making an impressive stride in the clothing exports, as has been in the textiles exports. China was the