critical study on fashion market in term of Export

Submitted to Mr.Ishwar kumar Submitted by

Meraj ahmad Poonam kumari

Definition

Export - trade something out of the country. In economics, an export is any good or commodity, transported from one country to another country in a legitimate fashion, typically for use in trade. In International Trade, "exports" refers to selling goods and services produced in home country to other markets

Size of Textile Industry of India

Industry range - production of raw material to providing high value-added products. Industry uses --variety of fibers ranging from natural to man made fibers significant role in Indian economy     direct employment to an estimated 35 million people, 4 per cent of GDP accounting for 35 per cent of gross export earnings. contributes 14 per cent of the value-addition in the manufacturing sector.

India is :

the largest producer of jute in the World; the second largest producer of silk; the third largest in cotton and second largest in cellulosic fibers; the fifth largest in synthetic fibers/yarns

Destinations of exports: 125 destinations  86% of export in 17 quota countries (USA. Canada, 15 EU nations)


14 % in non-quota countries (major Japan, Australia, Switzerland, Russia , UAE ) Types of Garment Exported : Woven and Knitted Major Product category : Shorts, trouser, ladies blouses, skirts, gents shirts , knitted shirts, ladies dresses. Coats & jackets, T-shirts

The textile and garment and their trade holds a lot of importance for two reasons: 1. These are basic items of consumptions in all countries. 2. The manufacturing is a labor intensive process and requires little seed capital.

PROBLEMS FACED BY THE TEXTILE INDUSTRY IN INDIA:

Sickness Obsolescence Government Regulations Competition from Man-made Fibers Competition from other Countries

Vision India 2010 for Textiles Textile economy to grow to $ 85 bn. by 2010. Creation of 12 million new jobs in Textile Sector. To increase Indias share in world trade to 6% by 2010. Achieve export value of $ 40 Billion by 2010. Modernization and consolidation for creating a globally competitive industry

SOME FACT OF INDIAN TEXTILE

With the revival of demand in Western markets, Indias textile exports may grow up to $24 billion in 2010-11 from an estimated $20 billion in the previous fiscal, industry and government officials have said in New Delhi. - SME Times News Bureau After declining for several months because of the global financial meltdown, textile exports to the US are finally back on track, recording growth in February and March. Textile and apparel exports to the US, which account for more than a quarter of shipments made by the industry, rose 8.3% year-onyear (y-o-y) in March to $487.8 million. Exports increased 7.7% y-o-y to $443.5 million in February, data with the office of textiles and apparel, US Department of Commerce shows. (TNN, May 18, 2010)

The government and the industry are looking for diversification opportunities to enlarge the overall market size of the Indian textiles industry. India textiles industry wants to reach the size of US$ 115 billion by 2012. The expectation is that the technical textiles sector will contribute at least 10% to the overall market size, which will be US$ 11.5 billion. The current value of the Indian technical textiles sector is around US$ 8 billion. This means, Indias technical textiles sector has to nearly double in size in years ahead. All stake holders, i.e. industry and trade associations, Government, industry related trade associations and textile academia and working seriously to build a viable technical textiles sector in India. In this connection, Government of India is playing a significant role in creating awareness and developing a knowledge base for the nonwovens and technical textiles sector. (The Indian Textile Journal August 2010)

REFERENCE
Ministry of Textile www.fibre2fibre.com www.nic.com www.ministryofcommerce.com www.wto.com www.businessworldindia.com