2. Needs of the garment industry to grow faster
(i) The existing apparel export basket is predominantly in cotton garments, which is around 80-85 percent. The world apparel market is primarily in man-made garments and occupies almost 55 percent of the world clothing trade.
Thus India, though has lot of potential in increasing its share in world man-made fibre garments, yet has not been possible due to non-availability of non-cotton inputs at competitive rates.
(ii) The apparel export industry has achieved a performance of US$ 8212 million in 2005-06 as against US$ 6201 in the previous year.
The sharp rise in export was possible due to abolition of trade quotas in the global textile and clothing sector after over 4 decades of restrictions.
(iii) The coming year's too similar trend is expected to continue with growth coming from garment sector.
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Apparel Export Promotion Council
marketing@alchempro.com
