India is the second largest garment producer in the world. It has recently replaced Germany & Turkey to reach the spot. Garment forms 45% of overall textile trade and is facing stiff competition from Bangladesh, Vietnam and China. India has overtaken Germany and Italy to emerge as the world's second largest textile exporter, but it lags well behind China, whose exports are nearly seven times higher.
India's Garment Industry has been rapidly growing in last few years. Exports have been rising as there is an increase in orders from global buyers accompanied by a rise of investments in modernization in the garment sector of the country. It is a key industry as it contributes substantially to India's export earning, it is believed that one out of every six households in the coun
Union government has announced a Rs. 6,000 crore special package for the textile and apparel sector. The package, which will be implemented soon, aims to help in creating one crore jobs, mostly for women, in the next three years. The package, approved by the Union Cabinet includes several tax and production incentives. The government has also suggested bringing in flexibility in labour laws to increase productivity. These initiatives are expected to lead to an increase in exports by $30 billion and help attract investment worth Rs. 74,000 crore in three years. Through changes in schemes and regulations, the government are ensuring that the sector realises its full potential in India.
Though India was the leader from the years 1995 to 2000, Bangladesh?s apparel exports exceeded that of I