Everything from fiber and yarn to fabric, made-ups and ready made garments made of cotton, silk, wool and synthetic yarn go under textiles. Over 55% of the global trade relates to readymade garments and in 2013 India ranked sixth with exports of $16 billion, which is around 40% of the country's textile exports where for China the share of garments is estimated at close to 60% that indicates that the readymade industry highly needs government support, as reported by TOI.
The 23% rise in exports of shirts, trousers, skirts and other readymade fabrics during 2013 shows that the Indian garment industry has gained recovery over the past few months.
Reacting over the success AEPC chairman, Virender Uppal said, “Despite having slow recovery in the US and EU, our biggest traditional markets as well as prevailing global slowdown coupled with sustained cost of inflationary inputs, we made the best possible efforts to reach here”.
The government policy of diversification of market and product base has helped us and we ventured into the newer markets, which paid huge dividends. We also leveraged our raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India, Uppal added.