Package has huge potential: Indian apparel sector

19 Jul '16

4 min read

Raja Shanmugam, director at Warsaw International, said that India currently accounts for just three per cent of the global market for apparels and this policy has the potential to increase the share by a further 2-3 per cent in a couple of years.

“Tirupur on its own, exports knitwear of around Rs 25,000 crore per annum and we have set a vision for exports to total around Rs 100,000 crore by 2020. This policy will help realise the vision of reaching Rs 100,000 crore,” Shanmugam stated.

Udani was also of the opinion that while increase in exports may not happen immediately, as the fruits of policy may take some time to fructify, he sees them picking up within two years in a substantial manner, although, he added that, exports are linked to various other factors like currency fluctuations, signing of free trade agreements, etc.

“Although the rules are still not clear, we understand that the government will pay the provident fund and ESI on behalf of newly recruited workers, which too we welcome wholeheartedly. The idea behind the policy is creation of new jobs, which, I am sure, the industry will be able to create,” Dhingra said.

Shanmugam, on the other hand, recommended setting up of a Knitwear Board, on the lines of the Silk Board and the Coir Board, which will help the policy makers in Delhi, connect with the knitwear hubs of Tirupur or Ludhiana to draft better policies. (AR)

Fibre2fashion News Desk - India

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