How is worldwide RMG market faring? How do you see India poised for RMG sector? Which issues shall remain to be worked upon for better performance in the sector?
Ø Global view on RMG sector:
The global textile and apparel trade has grown at a decent pace by around 6% annually in last two decades. The industry has the potential to grow up to US$ 800bn by the year 2015.
Apparels constitute the biggest category of global trade with 60% share.
Ø RMG sector in
The Indian textile and apparel market is estimated to be US$80bn approx. In the last five years the industry has grown at a rate of more than 10% annually. The industry is expected to grow at a much faster pace in the future, as it is fuelled by a strong domestic consumption which is rapidly growing due to brand awareness and increase in purchasing power.
1. Increase in domestic consumption and subsequent opportunity in new markets like
2. Sourcing shift of buyers in US, EU and
3. Opportunity provided by sourcing shift of buyers from
Published on: 20/12/2011
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.