Evolution of Garments Industry in India

Evolution of Garments Industry in India

The Garment Industry of India is a ₹ one trillion industry (₹71,43,000 Crores) . Almost 33 % of its knitwear production and about 20% of its woven-garment production, both by volume, enters export markets. Overall about 25 % of the volume of its garment production goes into export markets, leaving 75 % for domestic consumption.

The Industry covers over one lakh units and employs about 6 million workers, both directly and indirectly in almost equal proportion. The indirect portion helps to sustain the direct production sector in the shape of items associated with the garment industry production including sewing/embroidery thread, buttons, buckles, zippers, metal plates, cardboard sheets, plastic butterflies and packaging material.

Despite the slowdown, India continues to present an exciting opportunity, particularly for price competitive players.

As per Union Budget 2020 India: Textile industry plays a significant role in the economy contributing to over 13% of the industrial output, over 2% to the GDP of India.

Jeans Manufacturing Industry

The market size of Indian Denim Wear was estimated to be ₹20,205 Crore in 2016. The market is now projected to grow at a CAGR of 14.5 per cent and reach ₹39,651 crore by 2021, and ₹77,999 Crore markets by 2026.

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