The Latest Catch...India can have an Edge : Thanks to the global economic recovery, exports from India are booming and one industry which has greatly benefited from the demand upturn is ready made garments. Being the second largest job provider, the garments industry now employs nearly 70 lakh people in India. Besides, the rise in exports is also good news for the economy. Bulk of India’s exports of apparels go to the US, Canada and the European Union. The government thinks India has the potential to increase its textile and apparel share in the world trade from the current level of 4.5 per cent to 8 per cent and reach $80 billion by 2020. Exporters are enjoying good demand and the industry players are booked with orders through June and July 2011, which is exceptionally good for the Industry. “There is a good demand for our exports in the US. There is an improvement in the European market as well,” said Apparel Export Promotion Council (AEPC) Chairman Premal Udani. The US accounts for about 40 per cent of India’s total garment exports. Exports started growing in August 2010 after witnessing deceleration in the initial months of the current fiscal.
Posted on: Thu, 12 Sep 2013 08:39:09 +0000
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