Apparels and Textiles Made-In-India, Exported to 100 Countries

Old is gold, they say. This cliche perfectly suits our Indian textile and apparel industry. One of the oldest yet counted among the top most sectors of the country; the industry has evolved into being one of the largest foreign exchange earning sectors of the country.

Today, the Indian textile and apparel PERFORMANCE FABRIC sector accounts for around 4 per cent of the gross domestic product (GDP), 14 per cent of industrial production and more than 13% of the country’s total export earnings. In fact, the sector is witnessing unprecedented growth, providing employment opportunities to more than 35 million people.

The Indian textile industry is projected to be about US$ 52 billion and probably may reach US$ 115 billion by 2012. The local market may too receive a boost; from US$ 34.6 billion it may probably register US$ 60 billion by 2012. In fact, India’s exports probably will increase from 4% to 7 % in the upcoming years.

India’s textile exports have climbed up from US$ 19.14 billion in 2006-07 to US$ 22.13 billion in 2007-08, clocking a growth rate of over 15 per cent.

Textiles and Apparels, Made-in-India Export Figures

As per the data released by Ministry of Textiles, textiles worth US$ 15.27 billion were exported by India during April-December 2008.

Textiles, hand looms and handicrafts made-in-India are exported to over 100 countries. In fact, US have become the largest buyer of Indian textiles and apparels. Readymade garments (RMG) made-in-India form almost 41% of total Indian textile exports. RMG exports were worth US$ 9.06 billion in 2007-08. During April 2008-February 2009, RMG exports reached a figure of US$ 8.59 billion, an increase of 4.86 per cent over the corresponding period of 2007-08.

Also, apparel has grown into the second largest retail category in the country. Interestingly, the local apparel retailing industry is reportedly around US$ 2.7 billion and despite recession it is likely to grow at 5-7% in 2009-10.