The ambitious target of USD 50 billion by 2015 for the apparel export sector set by the government bears testimony to the massive potential of the sector. In spite of export growth slowing in recent months due to turbulence in the European and US markets, the Indian government has revealed that the sector is in line to achieve the USD 18 billion target for the present fiscal. The incentives provided to the sector over the last decade also make it clear that the sector has emerged as one of the most important segments for export.
Apparel export quite naturally assumes massive importance in india as the country is one of the largest producers of raw materials required for apparel manufacturing. From cotton to artificial materials, India’s cheap labour and low production costs makes it one of the most favoured manufacturing destinations in the world for clothing materials.