Indian clothing industry exports have grown on an average by 10 per cent a year in the course of the last decade. In addition to accounting for 4.5 per cent of international textile trade, India is becoming one of the largest consumer goods markets in the world. Valued at $58 billion a year, the Indian domestic textile and apparel market is expected to reach $141 billion by 2021.

The objective is to reach $24.9 billion in clothing exports by 2020, compared to $16 billion last year. This vast potential has led to the establishment of a first textile university project, which will come up in Gujarat. The growth of Indian clothing exports will be sustained by the expansion expected in world clothing trade and partly due to the rupee’s depreciation.

Readymade garments were the largest contributor to total textile and apparel exports from India in financial year ’15. The segment had a share of 40 per cent in overall textile exports. Cotton and man-made textiles were also major contributors with shares of 31 per cent and 16 per cent respectively.

However, the withdrawal of focus market scheme for cotton yarns has caused a steep decline in exports to non-conventional markets like Peru, Morocco etc.