How to tailor the garment sector for exports

News Snapshot:

India has a deep-rooted tradition in textiles and apparel (T&A). The sector employs 45 million people and contributes 2.3 per cent to overall GDP. But its share in global trade remains low at 4.2 per cent, a mere $37.8 billion out of $897.8 billion. A closer look at the apparel segment alone (under HS codes 61 and 62) shows that India’s share in global trade is even lower, at 3 per cent — $15.7 billion out of $529.3 billion. More disturbing is the fact that this share has remained stagnant for the past two decades. Advertisement Despite these modest numbers,...