Apparel Industry: Contributing Profusely to India’s GDP

Traditionally, the textile industry of India is the second largest industry, preceded by the agriculture sector. However, the industry verticals around the globe have witnessed a drastic change in the past few decades, and so as the economy of country and its contributing sectors. For the last 25 years, the focus of Indian economy has shifted from the agriculture based to information based.

Apparel manufacturers in India have utilized this great opportunity to combine it with technical and semi skilled manpower. In the contemporary times, India is the second largest producers of garments across the world, and market experts forecast that the country very soon is going to overtake China, which is as of now a global leader within the industry.

The Scope for Fabric Manufacturers

According to Fabric Manufacturers, the Indian apparel market has a phenomenal growth potential. The records from the government also substantiate the huge scope of the sector in the times to come. As per the Ministry of Textiles, the apparel sector contributes exactly 4% to India's GDP, whopping 14 % to Industrial production, and market capitalization at 20% p.a.

The exporters and manufacturers in Indian apparel industry are considered to contribute to the India’s export earnings by 18% per annum. The market pundits also reveal that this industry vertical is growing at a rate of 32% p. a., and the country enjoys the privileges of 7% share in the overseas market that undoubtedly entails the vast growth scope lies in the sector.

Domestic and Global Market Demand

Indian apparel industry is well-known across the globe for its superb quality garments for men and women. The demand for these apparels, made here is rising exponentially in the global market in the light of the fact that Apparel Manufacturers Indiacompanies produce international quality garments at relatively reasonable costs than the manufacturers of the developed nations. The main contribution to the highly low price of Indian apparel lies in the easy availability of cheap manpower.

Geographical Belt:

Compliant textile manufacturers in India are spread right from Punjab (North) to Maharashtra in the West and southern states of the country including Tamil Nadu, Andhra Pradesh and Karnataka. Mumbai and Surat are the biggest hubs of textile manufacturers and suppliers in the country because of the easy availability of sea cargo facilities for trading purposes and a profuse amount of cotton production in the region.

The End Note

In addition to the ever increasing global market demands, the markets across the nation have also manifested an enormous demand of high quality apparels in men, women and kids. Indian men and women have been increasingly showing their inclination for ultra modern fashion statements in the past few years, which also has very positively affected domestic clothing markets of country.

Tarun Sharma has almost a decade’s experience as a writer and blogger. His interest areas in writing include Sports, Apparel & Textile, Online Business, Engineering, to mention a few.