According to reports send by World Bank says that if daily wages is increased by 1%then women might get attracted and enter labor force giving a jump to the market by 18%. At this point of time millions of people get introduced to workforce and it will continue being up to next three decades. Also, the potential of Indian market regarding export oriented apparel production is very high and can create better jobs in similar sectors. It includes other South Asian countries too.
A one per cent increase in expected wages in the textiles and apparel industry could raise the probability of women entering the labor force by 18.9%.
Women can gain benefit in apparel sector if compared to other industries and have the potential to grow annual basis. The top 4 apparel manufacturers of South Asia which are India, Pakistan, Bangladesh and Sri Lanka contribute the world market with big investments in trade and account. In particular around 12% of apparels are exported in comparison to global manufacturing market. Also, India has got the highest amount of best of fibre, textile as well as manufacturing base.
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According to Onno Ruhl, World Bank Country Director, India,Rising costs of apparel manufacturing in China provides a window of opportunity for India to focus on apparel in productively employing its huge working-age population,.” Although, gaining such a huge market share of world, Southeast Asian countries like Cambodia, Vietnam and Indonesia are shining in apparel sector due to overall performance in export, product diversity and limited cost related factors.
Apart from these countries giving a tough competition in apparel manufacturing sector , China which also export apparels and is one of the best manufacturers of world in most of the sectors, might give hand to hand in being largest apparel exporters. In its latest reports, ‘The Stitches To Riches Apparel Employment, Trade and Economic Development opined that with increase in wages, China,might slowly relinquish its lead position in the global apparel market, opening the door to other competitors. The respective company is a multilateral lending agency.
If other reports is to be believed then removing trade restrictions would lead to easy access towards man-made fibers. Also, increment in efficiency along with integration between textiles and apparels and improvement in social and environmental compliance as well as introduction to better human resource practices.
