Garment Updates
- Bangladesh produced cotton meets only 2-3 per cent of the domestic garment industry’s demand.
Bangladesh produced 0.16 million bale fiber cotton in 2016-17 fiscal. To meet the growing demand of the garment industry, government has to spend around $4.5 billion a year to import cotton. - India’s garment exports are expected to register a 15-18 per cent growth in FY 18 as against USD 17 billion registered last year.
“Rebates on state levies have been introduced to encourage exports. There is an additional 10 per cent subsidy for the garment and made up segments, which means the home textile industry would get 25 per cent capital investment subsidy on new machines. - The readymade garment sector is currently the largest contributor to India’s total textile and apparel exports, accounting for roughly 41 per cent.
- Vietnam’s Ho Chi Minh City will build large centers for designing fashion, trading garment, textile material and accessories to become the country’s garment, textile and accessory hub to meet 80-90 per cent of Vietnam’s demand for garments and textiles by 2020, and supply 100 per cent of accessories for its garment industry.
