Indian Garment Industry has marked its presence worldwide with its significant export rate. India has become one of the largest exporters of designer clothes. India has a big name in International garment industry due to its great fabric and reasonable prices. India has been the first country to cultivate cotton that was followed by other nations. Garment industry has been appearing as a pioneer providing 17% to export revenues and 4% to GDP. In short, it is an industry with great potential and it will flourish worldwide in upcoming years.
The wide expansion of garment industry in India is accomplished due to the easy availability of raw material and manpower. India has a rich source of cotton, silk, and other fibers. It is ranked among the top producers of these fabrics. Handmade clothes are a part of Indian tradition that is followed globally. Indian handmade clothes with artistic embroidery have been popular in the international clothing market that constitutes not only fashionable clothes but carpets, bed and table linen, curtains, and many other things. It makes us feel proud that the Indian artisans and craftsmen have held the diversity and ethnicity of our culture and tradition internationally.
Indian garment industry is providing employment for over 10 million people, which is a huge number. This industry is the backbone of Indian economy that constitutes 30% of India`s export. Garment industry is receiving support from Indian government such as removal of restrictions on investment by large companies and foreign investors, assistance to expand the infrastructure for exporters and has given incentives for techno-logical up-gradation. All this has been done by keeping in mind the business this industry is providing to India and its popularity worldwide.
- India is one of the largest producers of cotton worldwide. Silk, polyester, and other fabrics are also available naturally.
- Spinning sector presents a great competitiveness and marks its presence in almost all processes of value chains.
- Highly skilled manpower, both technical and management makes the working of garment industry easier. Low labour rates in India, reduce the overall manufacturing cost.
- Spindles installed in India, enjoys a share of 24% alone in the world due to which it has become the largest exporter of cotton fabric in the world.
- Highest export percentage of this industry makes it even more lucrative, and it improves the economy of our country.
Weaknesses of Garment Industry:
- Unfavorable labour laws makes it hard for the industries to achieve what they want. Due to the poor implementation of labour laws, mostly industries keep small units to prevent any unwanted situation of labour unionization.
- The geographical location of India makes it hard for garment traders. They need to pay more shipping cost, and it takes more time to reach the product to the required destination in comparison to other countries.
- Political pressure and government policies create some hurdle in production.
- Lack of trade membership restricts the amount of export quantities. It is the most serious issue for garment industry trading.