INDIA: Indian Textile, Apparel Industry Now Part of Global Supply Chain
With a wide variety of fabrics and technically-skilled manpower, Indian textile and apparel industry has now become a part of the global supply chain, minister of state for commerce Jairam Ramesh said.
"Our fabrics and workers are going to Bangladesh, Sri Lanka and other countries. A lot of investment in Bangladesh is from India," he said after meeting top exporters at 42nd India International Garment Fair (IIGF).
"Though Bangladesh has overtaken India in apparel exports, the country has definitely become a part of the global supply chain."
Mr Ramesh said Indian exporters should not remain focused on traditional markets like the United States and Europe, but rather explore new markets like Japan and non-traditional products like those made from organic cotton which command premium in international market.
"We should quickly respond to new trends to beat competition from Vietnam, Bangladesh and Sri Lanka." The minister was talking to reporters at the fourth and final day of 42nd IIGF after visiting the exhibition hall, fashion streets and theme-based display areas.
Added: January 23, 2009 Source: Agencies