Project Report on Knitting & Garments Mfg Unit
PROJECT REPORT
ON KNITTING AND GARMENT PROJECT
By: Dr.R.Suresh Kumar, Chartered Engineer
INTRODUCTION:
The Indian textile industry is one of the largest and oldest sectors in the country and among the most important in the economy in terms of output, investment and employment. The sector employs nearly 35 million people and after agriculture, is the second highest employer in the country. Its importance is underlined by the fact that it accounts for around 4% of Gross Domestic Product, 14% of industrial production, 9% of excise collections, 18% of employment in the industrial sector, and 16% of the country’s total export earnings. In the Textile industry, the Apparel industry is one of the important value chains of the vertical and is India’s second largest industry after IT. At present, it is amongst the fastest growing industry segment and is also the second largest foreign exchange earner for the country. Also the retail segment in India is booming up at a very fast phase.
MARKET SIZE ESTIMATES:
Nature of Business
Year 2013
Year 2015
Export
22 USD bn
40 USD bn
Domestic
33 USD bn
60 USD bn
TOTAL
55 USD bn
100 USD bn
• Drivers of exports
- Outsourcing by retail giants.
- Transition from Converters to vendor partners of global buyers.
- Capacity building to lower per unit cost and become more competitive.
• Drivers of domestic market
- Growing young population
- Rising household income levels
- Growth of organized retail
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MARKET:
Apparel is one of the basic necessities of human civilization along with food, water and shelter. The Apparel Industry reflects people’s lifestyles and shows their social and economic status. The concept of purchasing fabric & get it sewn by our traditional tailors has receded and the current generation prefers for readymade garment and there is an ever-growing demand for the same. With the
ON KNITTING AND GARMENT PROJECT
By: Dr.R.Suresh Kumar, Chartered Engineer
INTRODUCTION:
The Indian textile industry is one of the largest and oldest sectors in the country and among the most important in the economy in terms of output, investment and employment. The sector employs nearly 35 million people and after agriculture, is the second highest employer in the country. Its importance is underlined by the fact that it accounts for around 4% of Gross Domestic Product, 14% of industrial production, 9% of excise collections, 18% of employment in the industrial sector, and 16% of the country’s total export earnings. In the Textile industry, the Apparel industry is one of the important value chains of the vertical and is India’s second largest industry after IT. At present, it is amongst the fastest growing industry segment and is also the second largest foreign exchange earner for the country. Also the retail segment in India is booming up at a very fast phase.
MARKET SIZE ESTIMATES:
Nature of Business
Year 2013
Year 2015
Export
22 USD bn
40 USD bn
Domestic
33 USD bn
60 USD bn
TOTAL
55 USD bn
100 USD bn
• Drivers of exports
- Outsourcing by retail giants.
- Transition from Converters to vendor partners of global buyers.
- Capacity building to lower per unit cost and become more competitive.
• Drivers of domestic market
- Growing young population
- Rising household income levels
- Growth of organized retail
Page1
MARKET:
Apparel is one of the basic necessities of human civilization along with food, water and shelter. The Apparel Industry reflects people’s lifestyles and shows their social and economic status. The concept of purchasing fabric & get it sewn by our traditional tailors has receded and the current generation prefers for readymade garment and there is an ever-growing demand for the same. With the