By RichmondUniverity

A Glance of Past and Future of Garment Industry

The much awaited quota phase out by 31-12-2004 has opened a new chapter in the history of international trade which is growing substantially post 2004 which necessitates substantial involvement of productivity & quality. The estimation of the value of international apparel trade by 2010 showed a wide gap. As per the estimates of KSA (Kurt Salmon Associates) the global apparel trade was predicted to touch $200 billion U.S. in year 2000 whereas the study “India the Growth Imperative” (Mc Kinsey 2001) predicted it at $415 U.S. billion. Over 80% of the world’s population will live in the developing countries i.e. 5.94 billion vis-à-vis 1.32 billion that of developed countries (as per Aama predictions). Indeed the global apparel trade has surpassed $ 415 U.S. billion in the year 2010. Many developing countries like India & China that were major apparel exporters have become major markets for ready to wear apparel.   Read more