June 30, 2015 7:39 AM

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India's garment industry expected to achieve export target of USD18 billion during current financial year

Riding on last years 12.2 percent growth India's garment industry is expected to achieve export target of USD18 billion during the current financial year.Inaugurating the 61st National Garment Fair in Mumbai on Monday Textile Secretary Dr. S. K. Panda said the Indian apparel industry offers large scale growth opportunities in view of strong domestic demand as well. Dr Panda said to put the Indian garment industry on world map the country needs to address challenges relating to technology upgradation and skill development which will expand employment opportunities.Presently the total size of the Indian Apparel industry is pegged around Rs. 3 lakh crore. The domestic demand is to the tune of Rs. 2 lakh crore. The Clothing Manufacturers Association of India, CMAI expects the size of Indian Apparel Industry to double within 5 years.To address the issue of skill development CMAI has planned to set up 50 Apparel Training Centres across India of which 35 are already functional. In Maharashtra, there are two Skill Development Centres at Baramati and Tarapur, while the third is coming up at Kalyan spread over 100 acres.

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