India Garment Steamer Market is projected to grow at a CAGR of over 10% during 2018-24. However, handheld garment steamer segment is projected to exhibit highest growth rate over the coming years owing to growing consumer acceptance of handheld garment steamers, especially by frequent travelers requiring portable and compact products which can be easily carried on tours.
Garment exports from India to the US, the European Union and Japan are likely to pick up in months ahead on the back of improvement in their retail markets, Confederation of Indian Textile Industries (CITI) General Secretary D K Nair said.
India lacks skills necessary to exploit the potential of the textile sector in the world market, especially in technical textiles. This was stated by G. Somasundaram, Head, Industry Linkages (Skill Development), Infrastructure Leasing and Financial Services Cluster, Bangalore while addressing a one-day workshop on Fashion Business-Emerging Opportunities - Indian Garment Industry.
Amid apparel industry's demand for government intervention to prevent rising yarn prices, Union Textile Minister Dayanidhi Maran said the government will take measures to protect the handloom and garment manufacturers.
The Cotton Textiles Export Promotion Council (TEXPROCIL) urged the Government should consider giving additional benefits to the downstream Garment & Home Textile sectors so that they can tide over the temporary crisis rather than seek imposition of a tax on exports of Cotton Yarn.