India has the ample production of raw materials such as cotton, silk, jute, etc. along with manufacturing mills as an added advantage. The country is among the largest exporters of the ready-made garments in markets like the US and the UAE. The total exports of textiles and apparels are expected to touch US $ 82 billion by 2021 with a CAGR of 12.06 per cent.

The strategic location of Indian subcontinent in the world map is a great advantage for the Indian textile industry. It has the largest raw material base power boosted with the manufacturing strength across the value chain. Being the largest producer and second largest importer of the cotton, India is also the biggest consumer of cotton. Backed by a rich history of fine craftsmanship, design talent is seeing an upsurge as the Indian apparels have found the way in the global fashion stories.

The top Ready-Made Garment (RMG) exporters from India are the United States followed by the United Arab Emirates, United Kingdom, Germany, Spain and France (not considering European Union as a single destination). As per the data sourced from India Brand Equity Foundation, between April and October 2018, the total textile and clothing exports stood at Rs. 1.52 trillion (US $ 21.95 billion). RMG exports from India stood at Rs. 61,135.34 crore (US $ 8.86 billion) during the same time.

Fibre exports of the country in 2017-18 were valued at US $ 2,481.90 million. Between April and October 2018, fibre exports stood at Rs. 9,355.71 crore (US $ 1,355.31 million). Total value of yarn, fabrics and made-ups exports of the country stood at US $ 14.33 billion during 2017-18. Between April and Oct 2018, the exports stood at Rs. 63,836.98 crore (US $ 9.25 billion). Notably, the total exports of textiles and apparels are expected to touch US $ 82 billion by 2021 with a CAGR of 12.06 per cent.

India’s Comprehensive Economic Partnership Agreement (CEPA) with Japan provides exporters with zero duty access in Japanese markets. The India-Singapore Comprehensive Economic Cooperation Agreement (CECA) gives a similar favourable positioning to Indian RMG imports in Singapore. In a move to support the apparel industry, the Government of India had set up 8 apparel manufacturing centres in North Eastern region. Not only this, 200 new production units have come up in existing textile parks in the last two years generating job opportunities.

Since the industry creates major job opportunities and employs millions of people directly or indirectly, the Government has initiated various schemes and policies to let the sector bloom. The future of the industry is shining since the trade is expected to increase considerably.

Author's Bio: 

Sonali Ahuja is the Apparel Resources content contributor who writes about the news and updates of the apparel, fashion and textile industry. Her article is based on the textile accessory industry, the dynamics of changing fashion trends and the industry.