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Role and importance of fashion apparel industry.

Role and Importance of Fashion Apparel Industry

Readymade garments industry particularly "Fashion Sector", which ranks among the largest consumer goods industries in the world is regarded as the most dynamic segment of Pakistan's cotton textile industry. It provides the highest value addition to our main cash crop namely cotton as compared to other cotton based items. Considering the export prices of all cotton based products it would be observed that the equivalent quantity of readymade garments would fetch a much higher price in the international market as compared to other items. - Source of increased foreign exchange earning: Readymade garments industry is one of the major sources of increased foreign exchange earnings which are vitally needed to finance the development process. The exports of readymade garments from Pakistan experience are impressive growth rate during the last decade leading to higher foreign exchange earnings. It would be noticed that a piece of garment fetches three times the price of yarn exported in raw of semi-finished form. - Provides employment opportunities:

Being highly labour intensive, the apparel industry provides employment opportunities to a large number of labour force including both males and females alike. At present the industry is providing direct employment to over 150,000 workers while 100,000 more workers engaged in ginning, spinning and weaving are being indirectly provided employment opportunities. - Generates a high turnover rate: The apparel industry also generates a high turnover rate with relatively less capital investment. This is partly due to the fact that a large part of it falls under the category of cottage or small scale industry. The machinery component is also relatively less capital intensive as it mainly comprises of industrial sewing and other machines which are increasingly been supplemented by indigenously produced/assembled sewing machines leading to import substitution as well. - Poses no environmental hazards:

Unlike many other high value added industries, the apparel industry poses no environmental hazards or pollution problems, a price which countries pay for industrialization and development. - Provides diversification within the textile sector: The captioned industry also provides an important means of diversification within the textile industry by way of converting indigenously produced cloth into a higher value added product namely fashion apparel. -

Growth Potential: Primarily being an export oriented industry with linkages and high value added contents, the cotton fashion apparel industry has an inherent growth potential particularly for an agro-based economy like Pakistan with cotton being one of its major cash crops. As indicated earlier, Pakistan's apparel industry has achieved commendable progress since its coming into existence in the Seventies by acquiring capability of producing high quality apparel both for domestic consumption as well as for the export market. In the wake of such glaring features we hope that our Apparel Industry will be able to achieve the target of growth as desired by our Commerce Minister on the basis of new trade policy recently announced by him. The given incentives and concession, will no doubt will be helpful in boosting export. We will also be able to go ahead with modernisation as without inflow of technology things cannot be improved as desired.
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Title Annotation:Pakistan
Author:Khan, Yaqoob
Publication:Economic Review
Date:Aug 1, 1991
Previous Article:An exposure of apparel industry in Pakistan.
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