The apparel and textile sector is expected to make investments in high quality as well as competitively priced commodities in 2011 in order to sustain its place among the leading five exporters of the world and achieve the third rank among the apparel exporting nations of the world.
The sector needs to highlight on technological innovation apart from using high quality raw materials and enhancing the quality of its human resources together with the management. There is also a need for a support industry which can guarantee the sustainable development of the apparel and textile sector.
An ambitious target of US $12.7 to $13 billion has been set for the export earnings in 2011. Further it targets to procure around 55 to 60 percent of its raw materials from the local sources in order to reduce the import costs this year.
The sector decided to identify new export markets so that it can achieve the set targets. Besides, cotton growers are being encouraged to grow more cotton in order to curtail the dependence on imported raw materials.
In spite of the various challenges that are faced by the apparel sector, it has generated revenue of $11.2 billion from apparel exports in 2010 which went up by 23 percent from the exports of the previous year.
Fibre2fashion News Desk - India
marketing@alchempro.com
