STATUS QUO of Garment & Textile Industry

KS Rao, the Textile Minister has raised the annual export to $43 billion from $36 billion, as a part of the plan to leverage the sharp rupee depreciation to lift textile exports.The Apparel Exports declined 6% in 2012-13 to $13 billion because of slowing demand in United States of America and the European Union.
Government now looking at Export revival, the best way to contain the current Account Deficit(CAD) that stood at a historic high of 4.8% of the GDP in 2012-13 as after raising import duties on gold and steady increase in Fuel Price.

KS Rao Textile Minister

Why Government is so Vexed!
Rupee depreciation has caused inflation and over dependency on foreign market. We have to make our self more self-sufficient enough in order to tackle the inflation. In today's world of globalization we can't just depend upon the specific economic super-power. The economic condition can only be maintained with equal participation of all. Henceforth, government encourage small medium scale industry both financially and technically. Although sporadic demand and supply has juggled the economy but still we ought to look at new horizon. The FDI is one such measure. But we have to look closely about it's ramification in next 5 years. As for now it looks promising but we have to make sure that it doesn't create pseudo economic imperialism. We can't afford to compromise the MSM generic group.
Many garment industry have earnestly requested government that the women should be allowed to work in the Night Shift. In 2007 government did amendment in law for the latter, but it was again taken aback. Although in IT sector women can work during Night Shift.
This ambiguity clearly shows that Garment Industry still not best place to work. The day will be bright and good to work when women feel safe and comfortable in Industry. I am not comparing IT and Apparel Industry but just conveying about the compatibility of women's working in both sector. One thing for sure this FDI will bring some positive standard in working condition and in coming 5 years everyone will love this industry.

A Bleak ray of Hope

I see Rupee depreciation as a new ray of hope for Apparel Industry. The first thing first getting to basic. Export house should be used as catalysis and inorder to accentuate its effect certain ardent and clear measure should be taken. Labour shortages is a big issue now days and we can easily see that the manufacturing unit is seldom shifting from India to other third world country. A time will surely come when the Apparel Manufacturing unit of India won't be able to afford labour charge. Many industry will exhaust and some might be able to survive or render into another form. There will be exodus of manufacturing unit. As per my prophecy this will take another 10-15 years. But as for now we should brace our self for change.
As per now I can really say that Rupee depreciation is boon for Indian Apparel Export house.