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'India's apparel export to touch $18 billion in 2015'
21 Oct '15
3 min read
According to the report, the domestic apparel market has grown at a mean annual growth rate of 10 percent over the last five years.
"With growth in the economy and rising income levels, and is expected to maintain the growth rate over the medium term," it said.
The benefits of the government's flagship programme for textile sector upgradation - Technology Upgradation Fund Scheme (TUFS) - has been largely availed by the spinning sector with downstream sectors (weaving, processing and garmenting) witnessing limited participation.
"The government's earlier policy of reserving the weaving and apparel sectors for the small scale units which had specified cap on investments in plant and machinery had been one of the reasons for the fragmented nature of the industry," said the report.
But with revision in TUFS in October 2013 which focus on investments in downstream sectors, there have been increased investments there. (SH)
Fibre2Fashion News Desk – India
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