Now that multinational fashion companies have begun placing orders for the year-end sale in foreign markets, albeit somewhat later than anticipated, Indian apparel and fabric exporters can sigh with ease.
Industry insiders attribute the increase of the momentum to the ‘anti-China’ feeling in Western markets and the subsequent shift in their purchases to India. In 2022–2023, ready-to-wear garment exports from India reached US$16 billion, a rise of 1.09 percent over the previous year.
Orders had been declining for garment manufacturers, but now things are improving. The flow of orders suggests that the apparel and accessories should be in stores for Christmas and New Year’s in nations like the US and Europe, even though the volume is not as high as anticipated.
Contrary to the existing version of the PLI plan for textiles, which is limited to the production of man-made fibre fabrics, garments, and technology textiles, the second edition of the PLI scheme being proposed will be open to clothing, makeup, and accessories made of all materials.
