A major new national program. Designed to facilitate investment. Foster innovation. Enhance skill development. Protect intellectual property. And build best-in-class manufacturing infrastructure. There’s never been a better time to MAKE IN INDIA.
The Centre’s ‘Make in India’ pitch seems to have already found resonance in the country’s textile and garment industry, with India’s exports to its largest single market, the US, headed for a record surge this year.
The textile and apparel sector in India has been subject to a series of radical transformations over the last few years, due to a combination of technological changes, evolution of the different production costs, and the emergence of important international competitors. Such changes are likely to continue in the foreseeable future.
So as we see today, Indian textile and apparel exports have risen nearly 7 per cent during January-August 2014, according to the US Department of Commerce’s Office of Textiles and Apparel (OTEXA) data, compared with an average 2 per cent annual growth in the last five years.
Indian exporters have leveraged their raw material strengths and followed sustained better compliance practices, which attracted the buyers and international brands across globe to source from India. Added to that, innovative designs and ideas executed by Indian garment manufacturing companies have made it just the right time for India to shine and outshine in this sphere.
Myriad Indian companies are coming up with novel solutions and culturally rich forms and patterns borrowing heavily from age-old traditions. And the designs that enamor us make us believe that sometimes the “latest” innovations are really some of the oldest. A number of fashion lines are resorting to locally sourced materials to create stunning looks.
With the industry entering its transformation phase, the time is ripe for novel ideas to be presented and implemented which can place it on the high growth path. The need is to nurture young, creative and experienced minds to develop path-breaking ideas. New ideas will help the industry achieve competitive advantage, weed out inefficiencies and streamline the entire supply chain. And as the supply is upped, no force can stop the ‘Make in India’ fervour.