Make in India initiative, launched a couple of years ago by the Modi Government, has also caught the serious attention of the textile industry, which seemed to have progressed well on this front. The ITJ takes a closer look with some highlights from the current scenario.
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According to the Apparel Export Promotion Council (AEPC), exports of India’s garment is poised to register a positive growth in 2017-18. AEPC has an ambitious target for export and job creation in the next three years. The garment export industry was poised to grow in 2017 with the initiatives announced by the government along with the good quality products aided by innovative design prowess that will drive the change for the industry.
Vietnam’s exports of textiles and clothing are projected to increase by 7 per cent this year to $29 billion, far below the trade ministry’s previously-targeted $31 billion and the lowest growth in the last decade.
The Textiles Minister Smriti Irani presented the AEPC Export Awards 2015-16 in 22 categories. The awards were divided into multiple categories and the key awards were given to Shahi Exports, Orient Craft, Gokaldas Exports, (Bangalore).
Of the total €81 billion import of clothing from 28 countries to the European Union, 77 per cent is from Asia, which is almost double of what came out of Asia just 10 years ago. In the last 10 years, clothing import from the EU grew €32 billion with €30 billion coming from Asia alone.
Vietnam’s textile and garment exports this year are estimated to reach $28.5 billion, meeting roughly 92 per cent of the set plan due to market difficulties, the Vi?t Nam Textile and Apparel Association (Vitas) reports.
From January 2017, all units in India across the textile value chain, except handloom, khadi and jute, will have to register online and provide data on production.