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Add You - India: A Big Textile Outsourcing Hub
Client testimonials are one of the most powerful marketing tools coaches can use. Did you know that they can help you attract new clients, increase customer confidence and generate a positive “buzz” about you and your services? (Actually, those are just a few of their marketing uses.)Human nature gives testimonials such power because we love discovering what one person thinks of another – even when it’s positive! It’s the same dynamic that makes gossip so hard to resist. As a professional coach, you want the positive “gossip” that testimonials provide because you can use that information to promote yourself, your services and products, to call attention to your strengths and to distinguish yourself from your competitors.Testimonials also are powerful because they are first-person accounts: when a client makes a positive statement about you and backs it up with his or her name and contact information, it enhances your credibility.In addition, written testimonials are fabulously flexible. They can be used powerfully on your website, in printed and electronic promotional materials, following the signature line of your emails and in many other ways and places. Once you have obtained testimonials from your clients, you will think of a hundred ways to use them!Now that we have established the value of client testimonials, here are a few dos and don’ts to guide you
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, P
Twenty-one years ago I made a choice. At the time it seemed so simple and insignificant. I sat there with three questions as I pondered the “opportunity”: Who would know? Who would care? And the cost – what cost? Little did I know at the time that every, literally every, choice has a consequence. That is a universal law – a spiritual law – that governs us all…just like gravity.Anyone that knew me, at the time, would have said that I was basically an honest and ethical person. I was respected in my community, a community and civic leader, active in my church, serving as music director. No one, not even I, would have suspected that ten years later that I would be an inmate in Federal Prison.Have you ever found yourself over-extended? I did and I admit that I liked that lifestyle. The only problem was my bank account couldn’t support that lifestyle. This became the groundwork for the seed to be planted.Throughout our lives, in fact many times during our lives, we are faced with temptations. It is not the temptation that's the issue; it's how we respond to it that defines us. In my case, I was more concerned with maintaining the illusion of success than I was with my own honesty and integrity.After one Christmas, some twenty years ago, I received a call from my local banker, who said, “Chuck, we noticed that you're behind in your house payment. Is the
Textile Industry is offering one of the most basic requirements of community and it possess importance; preserve continued growth for developing quality of life. From the manufacturing of raw materials to the delivery of end products, it has gain its kind of position, as a self-dependent sector and with considerable value-addition at every stage of dealing; it is a key input to the country's economy.
Today the textiles and clothing industry engages an important position in India's economy. Being the major foreign exchange earner having about 35% in its torso, contributing to about 30 % of India's exports and 14% of industrial productions, expecting above 6% GDP in 2005, and it considered as the second largest vital sector of employment initiator after agriculture sector.
Present Scenario
Under the World Trade Organization (WTO) Agreement on Textiles and Clothing, the textile quota scheme of quantitative import limitations under the multi-fiber arrangement (MFA) came to an end on 1st January, 2005, hence developing countries like India will flourish in the new competitive atmosphere and as a result, the Indian textile industry will have a stronger place in both their export and domestic markets.
All along with its usual yarn and fabrics, at present India is exporting more than 100 garment product range. Many worlds' leading brands like Banana Republic, Tommy Hilfiger, Gap, Liz Claibome, Polo etc, are sourcing products from India.
With huge investments, persistence innovations, latest product mix and planned marketing, today, India has come out as a flourishing outsourcing centre for textiles and apparel industry to meet the global requirement of the manufacturing fibers and yarns products. In a view of the rising rapport with major global brands, dismantling of quota system from 2005 era would hit upon India as a main global outsourcing hub.
Competitive advantage & possible growth in Synthetic Textiles Sector India's synthetic textile sector is relatively modern and has a high growth potential which will help India to coming out as a major outsourcing hub. With a compounded annual growth rate of more than 22% the exports of MMF textiles have stretched out to a level of US $1.62 billion in 2002-03 starting from small exports in 1954. The export growth in 2002-03 matches up to the preceding year was in the harmony of 30 percent, and the MMF textile sector is the only sector where the performance has exceeds by the target fixed for this year by US $ 115 million.
Indian synthetic textiles are more and more accomplishing new markets along with keeping the market share in the existing markets. At present Indian synthetic textile exports are targeting more than 175 countries worldwide, where Middle East accounted for over 32 percent of our exports and the share of the extremely quality conscious in European Union, approximately 23 percent.
Over the years, the Indian MMF textile sector has built-up an export base; and the share of MMF textile exports in the total Indian textile export has also been raised, the share moved up from 10.38% in 2000-01 to 11.46% in 2001-02 and more to about 14% in 2002-03.
At present Indian exports of synthetic textiles to USA are rising at more than 90% yearly. It has also been observed that export growth will be striking for major MMF textile items after dismantling of quota system from 2005.
Further more, Indonesia, Korea's export of synthetic textiles are turning down compared to previous year. Manufacturing capacity of Korea has declined by more than 30% in the polyester filament sector in 2002 and in 2003 and it is expected to turn down further more, which will end with a turn down in their exports of polyester filament fabrics. Due to anti-dumping duty on the polyester filament fabrics obtained from Taiwan and Korea, countries like Brazil, gaining of more opportunity for India will exists as a larger synthetic fabrics exporter.
In the world, synthetic textile trade's share of India is also seeing increasing. The export share of Indian synthetic textiles in worldwide increased from 0.11% in 1971 to 1.12% in 1991 and more to about 3% in 2002. This suggests the rising performance of Indian synthetic textile items in the worldwide market.
Still there is an opportunity to explore new market segments like Latin America and Africa all along with maintaining the share in the established markets like European Union and USA. At this stage an annual growth expected to 15% for synthetic textiles and exports are expected to touch US$ 2.5 billion in 2005-05 and US$ 4.3 billion in 2009-10.
Why India has been emerging as a major BPO Centre?
Indian textile industry with its exclusive return is projected to emerge as a most important supplier to the world. The encouraging aspects, which would promote India's emergence as a BPO centre for textiles, are as follows: Strengths:
1. Low labor cost: The industry is mostly labor oriented and automation has taken place in a large amount process, hence availability of cheap labor forces.
2. Low cost of raw material: Cost of raw material sourcing is less in India due to the third largest producer of cotton in the world.
3. Huge Product Selection: Due to many ethnic fashion trends and cultural diversity, it provides more selection of products.
4. Rising domestic textile market: There is an enormous possible growth of industry due to rising incomes and middle class population.
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, P
Each year time pressed small business owners spend hundreds to thousands of dollars in the marketing activity known as networking. This activity has multiple purposes including: To gain the attention of prospects To expand potential prospects’ list To build relationships with prospects To secure referrals Bottom line to increase sales However, when looking at the use of resources employed to network through local chambers of commerce, professional associations or specific networking organizations such as BNI, LEADS or LeTip, the two questions that need to be asked are:What is this traditional networking strategy delivering to me in terms of clients whether direct or indirect through these leads or referrals?And is there another way to achieve more clients and sales using less resources?Let’s examine the traditional networking return on investment or ROI.A business owner joins a local chamber for $200 and then attends 1.5 hour monthly luncheon meetings at $20.00 She then spends 3 hours each month on two chamber committees. Additionally, she joined a local association for another $200 as well as a formal networking group for $700. The local association meets monthly in the evening for 1.5 hours and there is no food bill, but the networking group meets weekly for breakfast that costs $10
With huge investments, persistence innovations, latest product mix and planned marketing, today, India has come out as a flourishing outsourcing centre for textiles and apparel industry to meet the global requirement of the manufacturing fibers and yarns products. In a view of the rising rapport with major global brands, dismantling of quota system from 2005 era would hit upon India as a main global outsourcing hub.
Competitive advantage & possible growth in Synthetic Textiles Sector India's synthetic textile sector is relatively modern and has a high growth potential which will help India to coming out as a major outsourcing hub. With a compounded annual growth rate of more than 22% the exports of MMF textiles have stretched out to a level of US $1.62 billion in 2002-03 starting from small exports in 1954. The export growth in 2002-03 matches up to the preceding year was in the harmony of 30 percent, and the MMF textile sector is the only sector where the performance has exceeds by the target fixed for this year by US $ 115 million.
Indian synthetic textiles are more and more accomplishing new markets along with keeping the market share in the existing markets. At present Indian synthetic textile exports are targeting more than 175 countries worldwide, where Middle East accounted for over 32 percent of our exports and the share of the extremely quality conscious in European Union, approximately 23 percent.
Over the years, the Indian MMF textile sector has built-up an export base; and the share of MMF textile exports in the total Indian textile export has also been raised, the share moved up from 10.38% in 2000-01 to 11.46% in 2001-02 and more to about 14% in 2002-03.
At present Indian exports of synthetic textiles to USA are rising at more than 90% yearly. It has also been observed that export growth will be striking for major MMF textile items after dismantling of quota system from 2005.
Further more, Indonesia, Korea's export of synthetic textiles are turning down compared to previous year. Manufacturing capacity of Korea has declined by more than 30% in the polyester filament sector in 2002 and in 2003 and it is expected to turn down further more, which will end with a turn down in their exports of polyester filament fabrics. Due to anti-dumping duty on the polyester filament fabrics obtained from Taiwan and Korea, countries like Brazil, gaining of more opportunity for India will exists as a larger synthetic fabrics exporter.
In the world, synthetic textile trade's share of India is also seeing increasing. The export share of Indian synthetic textiles in worldwide increased from 0.11% in 1971 to 1.12% in 1991 and more to about 3% in 2002. This suggests the rising performance of Indian synthetic textile items in the worldwide market.
Still there is an opportunity to explore new market segments like Latin America and Africa all along with maintaining the share in the established markets like European Union and USA. At this stage an annual growth expected to 15% for synthetic textiles and exports are expected to touch US$ 2.5 billion in 2005-05 and US$ 4.3 billion in 2009-10.
Why India has been emerging as a major BPO Centre?
Indian textile industry with its exclusive return is projected to emerge as a most important supplier to the world. The encouraging aspects, which would promote India's emergence as a BPO centre for textiles, are as follows: Strengths:
1. Low labor cost: The industry is mostly labor oriented and automation has taken place in a large amount process, hence availability of cheap labor forces.
2. Low cost of raw material: Cost of raw material sourcing is less in India due to the third largest producer of cotton in the world.
3. Huge Product Selection: Due to many ethnic fashion trends and cultural diversity, it provides more selection of products.
4. Rising domestic textile market: There is an enormous possible growth of industry due to rising incomes and middle class population.
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, P
1. Don't ask you boss questions you can answer yourselfYes, it is comforting to ask your boss when you lack confidence or feel you need their approval. However, you’ve been employed because your boss believes you’re capable of getting on with the job in hand. Take a step back and look at the problem from another perspective, ask a colleague for help, be resourceful and check the internet or any other resources available.2. Provide solutions, not problemsSpend at least 10 minutes thinking of possible solutions to a problem before going to your boss. It will impress your boss if you go to them with a difficult problem (not something easily solved)… but then pull the rabbit out of the hat and suggest ways to resolve it.3. Never apologiseOK, we know, it is somewhat drastic but here is a right way to approach this. To start with an apology could get things off on the wrong foot and might show your weaknesses. Instead impress your boss with what you have learned rather than your mishaps: "Perhaps, looking back I would have… ", "If we were to do this again I would recommend…" and so on.4. Keep it professionalThere are times under stress when it’s easy to get emotional or uptight. E-mails can easily be misinterpreted - the tone, or perhaps what the sender was intending to say. Write your response but stop! Don’t send it straight away. Leave it for
Over the years, the Indian MMF textile sector has built-up an export base; and the share of MMF textile exports in the total Indian textile export has also been raised, the share moved up from 10.38% in 2000-01 to 11.46% in 2001-02 and more to about 14% in 2002-03.
At present Indian exports of synthetic textiles to USA are rising at more than 90% yearly. It has also been observed that export growth will be striking for major MMF textile items after dismantling of quota system from 2005.
Further more, Indonesia, Korea's export of synthetic textiles are turning down compared to previous year. Manufacturing capacity of Korea has declined by more than 30% in the polyester filament sector in 2002 and in 2003 and it is expected to turn down further more, which will end with a turn down in their exports of polyester filament fabrics. Due to anti-dumping duty on the polyester filament fabrics obtained from Taiwan and Korea, countries like Brazil, gaining of more opportunity for India will exists as a larger synthetic fabrics exporter.
In the world, synthetic textile trade's share of India is also seeing increasing. The export share of Indian synthetic textiles in worldwide increased from 0.11% in 1971 to 1.12% in 1991 and more to about 3% in 2002. This suggests the rising performance of Indian synthetic textile items in the worldwide market.
Still there is an opportunity to explore new market segments like Latin America and Africa all along with maintaining the share in the established markets like European Union and USA. At this stage an annual growth expected to 15% for synthetic textiles and exports are expected to touch US$ 2.5 billion in 2005-05 and US$ 4.3 billion in 2009-10.
Why India has been emerging as a major BPO Centre?
Indian textile industry with its exclusive return is projected to emerge as a most important supplier to the world. The encouraging aspects, which would promote India's emergence as a BPO centre for textiles, are as follows: Strengths:
1. Low labor cost: The industry is mostly labor oriented and automation has taken place in a large amount process, hence availability of cheap labor forces.
2. Low cost of raw material: Cost of raw material sourcing is less in India due to the third largest producer of cotton in the world.
3. Huge Product Selection: Due to many ethnic fashion trends and cultural diversity, it provides more selection of products.
4. Rising domestic textile market: There is an enormous possible growth of industry due to rising incomes and middle class population.
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, P
Many people discuss real estate, banking/financial institutions, and other common investments that are know to most entrepreneurs. However, because we are new entrepreneurs, we need to create NEW investments!Many investors invest money and time into a project. When one buys a piece of real estate, one spends his/her time evaluating the property, discussing and negotiating terms, and preparing and signing contracts. After all of that time is invested, money now has to be invested to conclude the deal. These two elements are very common in the entrepreneurial world. Time and money; time and money; time and money! This is all entrepreneurs hear! “You have to invest a lot of time and money to make this business work!” I do not entirely agree with that common statement, but there is some truth to it. The point is, we as new entrepreneurs need to (at the risk of promoting a clich?) THINK OUTSIDE THE BOX.You may be asking, “WHATS THE POINT? GET TO THE POINT!!” The point, my fellow business community members, is that if you/me/us/we ONLY invest time and money into a project, we are extremely limited in our choice of investment. The entire premise of being an entrepreneur is that we do not fall in line; we do not conform to the conventional; and we break boundaries and borders in order to pioneer an idea, product, or state of mind!Keeping that in mind, many people are interest
Still there is an opportunity to explore new market segments like Latin America and Africa all along with maintaining the share in the established markets like European Union and USA. At this stage an annual growth expected to 15% for synthetic textiles and exports are expected to touch US$ 2.5 billion in 2005-05 and US$ 4.3 billion in 2009-10.
Why India has been emerging as a major BPO Centre?
Indian textile industry with its exclusive return is projected to emerge as a most important supplier to the world. The encouraging aspects, which would promote India's emergence as a BPO centre for textiles, are as follows: Strengths:
1. Low labor cost: The industry is mostly labor oriented and automation has taken place in a large amount process, hence availability of cheap labor forces.
2. Low cost of raw material: Cost of raw material sourcing is less in India due to the third largest producer of cotton in the world.
3. Huge Product Selection: Due to many ethnic fashion trends and cultural diversity, it provides more selection of products.
4. Rising domestic textile market: There is an enormous possible growth of industry due to rising incomes and middle class population.
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, P
Do you ever hire or put work teams together? Are you ever developing relationships with clients, advisors, supervisors, or your staff? Do you ever have to make career choice decisions? Are you ever in position to decide about a new product and what quantities to produce, distribute, or acquire? Do you have to stay ahead or at least up with the trends? If you answered yes, then you may want to read on and explore how you can tap your deepest and strongest levels of wisdom...An executive buyer for a national retail chain of full service department stores played a "hunch" and created huge profits and national recognition for her stores. She had learned her job over several years and understood her customers but when it came to predicting the fashion trends she was still more guessing than using statistical analysis. Her intuition told her that an overlooked style would be a "hit" and proceeded to order the dress in certain fabrics and in large quantities. The manufacturer, being an honorable business associate, tried to dissuade her knowing that every other major buyer had overlooked or discounted this particular style. The buyer being strong willed and very strong on this "gut feeling" maintained her large order. A large promotional campaign was launched and to everyone's surprise, except the buyer, the dress sold out rapidly causing every other major store chain to demand this produ
5. Bulky exports: In overseas markets, India has been the established exporter of garments.
6. Government concentration: Textile industry has secure government consideration being a second largest employment generator, which can work for its support.
Opportunities:
1. An optimistic opportunity: International garment retailers are enthusiastic to dealing in India. Indian textile outsourcing will expand with buyers in the US, Europe and Africa due to huge support of skillful, low-cost workers and adequate raw materials availability in India. Due to cost reduction of successful supply chain management, it will expect global retailer clients like Wal-Mart, JC Penney etc. Earlier, JC Penney, international clothes retailer had sent a team to India to study the textiles industry trend and after proving benefits to them they are showing interest to double the outsourcing from India after the multi fiber agreement comes to an end. And they are optimistic and expecting the growth of Indian textiles industry.
2. Innovative opportunity : Indian Fashion Industry labeled signals of outsourcing Even, after IT and textiles, fashion outsourcing from India attracts international buyers like Saks Fifth Avenue and Browns, expecting to have wealth on exclusive Indian design aspects which have a ready market abroad. Recently, buyer visitors from Dubai, Pakistan and Hong Kong, US, UK, France visited Lakme India Fashion Week show and got attention, these buyers are seeing an opportunity for western wear with Indian nitty-gritty.
3. Imprint opportunity: The Indian textiles industry is famous for their excellence and charming colors for ages beyond 5000 years and have attracted expert from all over the world. The textiles of India stand the imprint of the excellent craftsmanship of the Indian weaver. The skill of weaving with skillful fingers, sketching models and generating designs, is a great skill which has been offered through generations from father to son, from time immemorial, also regional areas have their particular kinds of weaves and accompaniments providing new attention. The skill of regional arts, generation skills of arts, new screen printing and new digital computer software technology will bring the ever green opportunities to India and will emerge as a global hub of art and design soon.
4. Innovative efforts taken by the Government
. Applications with a project cost of Rs. 18,467 crore have been approved for financing of amount Rs. 8,505 crore, under the Technology Up-gradation Fund Schemes (TUFS), by Ministry of Textiles, India. For the weaving and the processing sector the interest rate subsidy has also been increased under TUFS, which guarantee the production and export of quality value added products.
. Apparel Parks for Exports, and Textile Centers Infrastructure Development Scheme, de-reservation of the garments sector, specialized textile parks, EOUs & EPZs have been set up
. Rise in investment ceilings and FDI is freely permitted in the textile sector
. To improve the productivity and quality of cotton, introduced a Technology Mission on Cotton
. Reduction of basic customs duty on selected textile machinery and spare parts
. Additional Excise Duty on Textiles & Textile Articles (AT&T) and Additional Excise Duty (Goods of Special Importance) Act has been eliminated
. Reduction in Excise duty on polyester filament yarn
. Government policies of liberalization and the innovative supports over the past couple of years have been showed tremendous growth
. Government's has adopted simplification of procedures and formalities for the exporters.
. The diversified small lot production system dominant in Indian textile industry and can handle better with the changes in shape of demands.
. Investments in the Jacquard Weaving & Printing are increasing in the Indian textiles industry, these high value added quality products will add importance in the world market
. Market Development Assistance (MDA) have been further move up for better marketing to focus Latin America, Africa and Asian regions
. With countries like Sri Lanka, Mercosur, Singapore, South Africa, Bangladesh, Thailand and China etc a series of special trade agreements have been signed which will direct to rapid growth in Indian exports.
. Employment Generation:
The textile sector itself has the potential to create 1.2 crore employment opportunity over the next five years. The government would continue to encourage growth within the textiles industry as it holds huge potential for employment and exports.
Prospecting Market
According to a study by Mc Kinsey, India could be the major supplier to EU and US market after the post quota regime. Though the market share in the post quota regime would determine bases on the various preserve actions to be taken by US and EU, it is accepted that there would be a certain uphold against China, which would limit the growing market share of China in the worldwide market.
The study also points out that the exports of main players of Hong Kong, Korea, Indonesia, Taiwan, Philippines and Thailand would turn down.
Indian textile exports are projected to touch US $15 billion in the fiscal 2005-2006 from US $13.6 billion in the last year. This includes a major share of outsourced by most important retail chains. The exports are expected to touch US $ 50 billion by 2010 of, which the contribution of garments will be US $ 25 billion. The focused segmented markets for Indian textiles and apparels are USA, UAE, UK, Germany, France, Italy, Russia, Canada, Bangladesh and Japan.
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