India Garment Exports ExpectedTo Grow 20 Percent In 2005
According to a report published recently by Hong Kong-based Global Sources, India’s garment manufacturers expect exports to top $6.5 billion in 2005 — up 20 percent from 2004; and of which about 45 percent is women’s apparel.The report, Women’s Garments: Supplier Capability In India, includes profiles of 84 manufacturers and 125 popular export designs. It provides analysis of industry pricing, production capacity, research and development spending, and manufacturing processes.The report was compiled by Global Sources’ India bureau. According to Global Sources, the expected export increase is a result of the removal of global garment quotas at the beginning of this year. The report says in the postquota era, China is expected to gain the largest share of the global export market, while India is predicted to become the secondlargest supplier to the United States and European Union. India is currently the world’s sixth-largest apparel exporter.Global Sources cites several competitive advantages for India in the post-quota era, including the availability of relatively low-cost skilled labor and qualified designers and the fact that it is one of the world’s largest producers of cotton and man-made yarns and fabrics.
May/June 2005