How does India’s garment export performance reflect on the economy according to a recent 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.

Addressing these challenges is crucial for India to enhance its garment export performance and boost economic growth.