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Textile and accessories - The next big opportunity!

The Garments Accessories and Packaging (GAP) sector plays a crucial role as the backward linkage industry for RMG as in FY 2023-24, it brought in US $ 6.87 billion, including US $ 1 billion from direct exports, to markets like Netherlands, South Africa, India, the Middle East, Italy and more.<br>

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Textile and accessories - The next big opportunity!

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  1. Textile and accessories: The next big opportunity! The Garments Accessories and Packaging (GAP) sector plays a crucial role as the backward linkage industry for RMG as in FY 2023-24, it brought in US $ 6.87 billion, including US $ 1 billion from direct exports, to markets like Netherlands, South Africa, India, the Middle East, Italy and more. For far too long, the RMG sector has taken centre stage, and rightfully so, given the massive revenue it generates. To maximise growth, there’s been a strong push to diversify the export basket and explore higher-value product categories. But amidst all this, the low-hanging fruit—the textile and accessories sector—has been largely overlooked. It’s time to change that! And boosting these sectors can also give a big lift to the RMG industry RMG industry itself. The textile market alone is set to hit US $ 8 billion by 2025, growing at a CAGR of 3.77 per cent from 2025- 29. The value-added margin is projected at 40 per cent and despite some domestic challenges, the potential is huge! Meanwhile, the Garments Accessories and Packaging (GAP) sector plays a crucial role as the backward linkage industry for RMG. In FY 2023-24, it brought in US $ 6.87 billion, including US $ 1 billion from direct exports, to markets like Netherlands, South Africa, India, the Middle East, Italy and more. To hit the US $ 80 billion RMG export target by 2030, the GAP sector needs to generate US $ 12 billion—a huge but achievable goal. If you want to read this and other Fashion and Apparel Industry articles, Apparel & Garments News,Apparel Industry updates related news Click here: - apparelresources.com

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