Indian Garment & Accessories, and its Ascend
By Rajendra Barwal
Indian textiles, one of the earliest and oldest industry, which came into existence in decades of ascend, is worth playing with billions. The garment industry of India contributes 4 per cent to the Gross Domestic Products and earns 18 per cent of the Net Foreign Exchange. Peeping from the past, half decade of the 20th century, industry had clubbed more than 34 joint ventures with foreign entrepreneurs. Today the Garment & Accessories prospects are growing rapidly due to significant changes in innovated trends. It is providing importance in garment and playing a major role in fashion. Despite of this substantial growth it has a unique position as a self-reliant industry, from the production of raw materials to the delivery of finished products, with substantial value-addition at each stage of processing; it also drives a major contribution in the country's economy.
Measuring the strength of the industry 1,25,000 knitted and woven garment units with capacity of 15 machines were installed in past. The estimated production in the year 2006 was 8,390 million pieces of which 1,930 million pieces, and was exported earning by $ 6.6 billion. Over 36.5 lakh workers were direct and indirectly serving the garment industry catering to the needs of the garment industry and manufacturing sewing, embroidery thread, buttons, buckles, zippers and packaging materials.
The export of garment and accessories and ethnic designs materials is an important factor for the global fashion industry. Those buttons on the Levi's was created in India. Thus the industries have numerous factors to carve the strength, in terms of cost-effectiveness in manufacture and raw material, quick adjustment to what will sell, and a vast and relatively inexpensive skilled work force. India offers the international fashion houses competitive prices, shorter lead times, and a virtual monopoly in embellishments.
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