Trends in Textile and Readymade garments Industry India

Textile & readymade garments industry holds a significant place in Indian economy and it accounts for approximately 30% of the total industrial export in India. Textiles and readymade garments industry is also important for Indian citizens as it provides source of income to several skilled, semi-skilled and unskilled workers. Many of my known people work in textile and export houses near Gurgaon. These factories provide readymade garments to popular brand like Nike, Lee Cooper, Adidas, Reebok etc.

Readymade garments India are already in hug demand abroad in developed countries like USA, UK, UAE, Germany, Italy, France, Canada, Mexico, Japan etc. Main reason why India enjoys a leading position in textiles is the fact that the country is rich in raw materials resources like cotton (India is largest producer of cotton yarn in the world) polyester, silk etc. Lower wages of the workers makes production in bulk possible and also it keeps the costs of the finished products lower as compared to other exporters in the world.

Despite significant growth in the past and current time, the Indian textile and readymade garment market is still in a growing stage. India fabric manufactures enjoys a good market share both in international and domestic markets.

Some of the popular names in Indian textile & Readymade garments industry:

• Siyarams
• Adidas India Marketing (P) LTD.
• Cantabill
• Westwood
• Bombay Dyeing
• Reebok India Company
• The Raymond Group
• Gini & Jony
• Globus
• S. Kumars

Readymade Garments Exporters India Seek Lift of VAT from Readymade Garments

Readymade garments industry in India is facing a tough competition from the garment exporters from China, Indonesia, Thailand, and Taiwan. The readymade garments industry in the mentioned countries is already in the advanced or developed staged, thus there is a heavy inflow of garment from these countries to India. Due to which the industry in India is facing a tough competition, competitive prices and as a results many industries are facing heavy losses.

In some states garment factories are already seeking aid from the Indian government to help them face the situation and find the solution to this. One such effected state is Rajasthan where the members of the Readymade Garments India committee had asked the government to life the 5% VAT from the government exporters. After the meeting the committee spokesman told the media that they will be submitting a written application to the concerned department and seek the concession in VAT. This they say will help the customer as well