An insight of the Textile industry and the Policies Framed

Textile industry remains the second largest employment generating sector after Agriculture for both skilled and unskilled labors in the country. According to a survey, the sector straight away provides employment to over 35 million people within the country. Though, was once unorganized but it completely changed after India economy opened to liberalization. The strong domestic and foreign demand of fiber has enormous helped this sector to flourish. And today, India earns an approx of 30% of its total foreign exchange through textile exports.

The Government has readily prepared a robust model to encourage, promote and produce the Textile and the opportunities availability in the sector. The Export Policies are revised in the budget every five year including Foreign Trade Policies. This also includes the various incentives under focus market scheme and Focus Product Scheme including several others.

Below discussed are various schemes and promotions, brought in effect by the Government if India for textile sector.

• Other than allowing 100% FDI (Foreign Direct Investment) in textiles under the automatic route. The Government introduced Welfare schemes, under which the Government provides Health and Life insurance coverage to 161.10 million weavers and ancillary workers under the hand loom weaver s comprehensive welfare scheme, while 73000artisans were provided health coverage under the Rajiv Gandhi Shilpi Swasthya Bima Yojana.

• The E-Marketing platforms recently developed by the Central cottage Industries corporation on India (CCIC), and the Handicraft and Handloom Exports Corporation of India (HHEC) has significantly helped in simplifying marketing issues. And various marketing initiatives are being taken in order to push and promote niche handloom products.

• Skill Development, A great emphasis has been laid on skill development in 12^th Five Year Plan, an integrated skill development scheme was introduced in this Five Year Plan that aims at training 2.675, 000 people within the next 5 years. The scheme would cover all sub sectors of the textiles and apparels, handicrafts, hand looms, jute and Sericulture.

Other than this, The Government has also promoted Credit linkages, Financial Package for waivers of overdues and Textile parks.The sustainable growth this industry has witnessed in decades has tremendously boast and strengthen our economy. To keep it in the lineage the Government and the private sector has great role to play.

Source: http://bit.ly/15EXtek

Indian Textile Industry Eyes Emerging Markets

Being the second largest employment generator in the country the textile industry is booming at an exponential rate. According to Kearney’s ‘Retail Apparel Index’ India is ranked as the fourth most promising market for apparel retailers in 2009. Though the last financial year recorded a minor set back due to a dip in the export figures, experts still maintain the viewpoint that the industry is flourishing.

The statistics show that the demand for  garments has started improving in the traditional markets and exports to some new markets have also started growing. With a keen eye on expanding into the emerging markets, the Indian textile industry decides to  keep its focus intact. Even today the traditional markets are considered to be the core areas for growth. Handicrafts account for a huge portion of textile exports from India.

Thus, the South East Asian continent including countries like Japan and China; followed by Latin America (housing Brazil which is ranked as the most attractive emerging market for apparel retailers according to survey reports) and also the African continent is seen as major potential markets for expansion. At the National Garment Fair in Mumbai, Ms Kiran Dhingra, Textiles Secretary, said though the Textile Ministry is concerned over the demand slowdown in major western countries such as the US and Europe, new markets like Latin America, Africa and West Asia have good potential.

Some of the other emerging markets being focused by the textile and apparel makers for the last few years include , Russia, Australia and New Zealand as they offer good potential.

Minister of State for Textiles Panabaaka Lakshmi promises a growth of 15 percent in India’s textile exports for the current fiscal year 2013-14.

Although entry into new markets is never easy and is a long and tedious process. With the right strategies and focused approach the markets can be tapped successfully over time and the revenues can be increased.

Increasing Opportunities in Apparel Sector!

The rise of Indian middle class is one of the greatest economic trends that is shaping the global world. Also, emerging economies are creating opportunities for exports and imports in textile and clothing, making  an attractive destination for investments in textile. According to Clothing Manufacturers Association of India  (CMAI), a reputed association in the Indian textile industry, there are amazing opportunities for professionals in the coming years. In the recent years, there has been a slowdown in the Indian textile industry; however, despite it, the Indian apparel market is expected to grow annually at 13%-15% !

The Indian apparel industry is expected to grow annually to US$125 billion (Rs 6, 75,000 crore) mark by 2020! Currently, India's apparel market is estimated to be around $50 billion (Rs 270,000 crore).

According to Rahul Mehta, President of CMAI, retail will play a pivotal role in India' growth story, however, the apparel growth is not going to be an easy one. Mr. Mehta also states that increasing purchasing power of Youth will drive the growth story in India as the youth is increasingly becoming more aware of where it is spending the money.

Thanks to the rising income potential of a relatively young population in India and increasing preference of owning branded apparels, Indian youth is accelerating to succeed at every step of the process. Also, there has been a surge in demand of similar branded apparels in rural, semi-urban and urban areas.

Moreover, the increasing share of designer wears has further led to growth in the apparel market. Increasing opportunities in the Indian textile industry will open many avenues for students aspiring to make careers in the industry.

At NITRA, we always aims to provide top educational degrees to students so that they can make successful careers in this field. NITRA's NITRA Technical Campus (NTC) offers 4 year B. Tech programs in Textile Technology, and Computer Science & Engineering. In addition to that, 2 Year PGDM program in Fashion Retail Management (FRM) is also offered.