India Will Become The World'S Largest Clothing And Knitwear Sourcing Center In Five Years.

A senior official of the India Garment Export Promotion Committee (P) said India could become the world's largest clothing and knitwear sourcing center in the next five years.

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AShaktivel, the chairman of the India Garment Export Promotion Council (AEPC), told the media that "because China is more interested in engineering and IT industry, Bangladesh is regarded as a non compliant country. Therefore, global market participants, whether traditional or non market, are interested in seeing India as a potential outsourcing area."

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< p > he said that India is likely to become the world's largest garment and a href= "//www.sjfzxm.com/news/index_f.asp" knitted apparel "/a" purchasing center in the next five years.

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P, compared with Bangladesh, Vietnam and other countries, India has been at a cost disadvantage. He said that the situation improved this year because of the violation of Bangladesh, India's orders increased.

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"P", he said, "a href=" "//www.sjfzxm.com/news/index_p.asp" > India < /a > clothing export factory compliance level is quite high, therefore, India become an attractive purchasing destination, the first 5 months of this financial year, clothing exports increased by 14% in U. S. dollars.

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< p > he said that according to this growth trend, this fiscal year, a href= "//www.sjfzxm.com/news/index_f.asp" > clothing export < /a > easily exceeds the target of 17 billion US dollars.

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< p > Shaktivel said that the delegation of AEPC will visit Israel, Japan and Australia to conclude deals with major buyers.

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"P > raw material supply, such as cotton yarn, can meet huge and growing demand. He said there is no problem in this regard, although yarn price fluctuation is a matter of concern.

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< p > "overall, from now on, it will be a great period for the garment industry," Shaktivel said.

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