How does India’s garment export performance reflect on the economy according to a recent report
Discuss the factors contributing to India’s garment export challenges as highlighted in the report.
India’s garment export performance plays a significant role in the country’s economy. A recent report highlighted several factors contributing to India's garment export challenges:
- Intense competition from countries like Bangladesh and Vietnam, which offer lower production costs and faster turnaround times.
- Inefficient infrastructure and logistics causing delays in fulfilling orders.
- Inconsistent quality standards leading to a loss of trust among buyers.
- Complex regulatory processes and high compliance costs impacting competitiveness.
- Lack of innovation and limited product diversification, hindering market expansion.
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9 months ago