India’s apparel exports have grown steadily over the past ten years
The Directorate General of Commercial Intelligence and Statistics of the Ministry of Commerce and Industry of the Indian Government reported that India’s garment exports have grown steadily over the past decade, from US$5 billion in 2001-02 to US$13.7 billion in 2011-12.
Clothing export growth surged from US$5 billion in 2001-02 to US$6.4 billion in 2004-05, to US$8.3 billion in 2005-06, to US$10.3 billion in 2008-09, and to US$10.3 billion in 2008-09. It grew to US$11.3 billion in 2009-10.
In 2011-12, India’s apparel exports increased by 18% year-on-year to US$13.7 billion, up from US$11.6 billion in 2010-11.
Mr. Amit Gugnani, Senior Vice President of Technopak Fashion and Textile Company, explained the reasons why India’s garment exports have continued to grow in the past decade. First, the Indian garment export industry is an independent and self-reliant industry.
The Indian apparel industry does not depend on the import of raw materials. The abundant domestic supply of raw materials helps control costs and shorten delivery times throughout the production process.
Second, there is a large number of skilled labor and the cost is lower than that in China. These conditions provide a competitive advantage for the Indian garment industry.
In addition, the Indian apparel industry enjoys production flexibility, which helps the industry cater to the requirements of various fashion products.
About 70% of Indian apparel exports go to the traditional markets of the United States and the European Union. However, due to the ongoing financial crisis in these countries, apparel exporters are currently looking for new markets.
He believes that the markets that can be developed are Brazil, Russia, Australia, and possibly China.
Despite financial problems plaguing the US and EU economies, some Indian apparel exporters have done well, while others are feeling the pressure of reduced export volumes.
For the most part, vertically integrated suppliers and those that already have large-scale manufacturing capabilities will outperform in the coming years, he said. Additionally, supplier consolidation has been a major trend for most retailers. Therefore, suppliers who are more reliable in terms of delivery and quality, who have shortened delivery times, who have the flexibility to produce various styles of products, and who operate leaner, will continue to win customers and markets in the future.
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