The upcoming India-European Union pact for free trade of textiles and garments is expected to generate millions of jobs in India. If India enters into a Free Trade Agreement (FTA) with EU, it would be able to fetch 3 billion dollars worth of apparels export order. Though, the pact is under discussion from quite long but if signed, it is supposed to create a whopping 2.5 million career opportunities in the textiles and garments export sectors.
Sources from Apparel Export Promotion Council (AEPC) showed that India exported garments worth 5.7 billion dollars to European Union last calendar year. It accounted for 55% of the country's total apparel shipments in 2009 and would bolster up considerably if FTA is concluded on a positive note. It is hoped that final results for this agreement would come by the end of current fiscal.
Indian market offers lead over China in terms of both labor and costs of production. The dearth of skilled manpower in textiles sector and high production costs in Chinese market has shifted interests of European Union to India. The human resource in our country is available in plenty and that too, at 20% lesser costs making it the next preference. Moreover, production costs for business in India is sure to cut down helping in profit boosting both directly and indirectly.
Jobs Portal in India are reckoned to grow in numbers post global economic slowdown. With revival of sectors come new business opportunities encouraging employment of trained and qualified manpower. Since people are in the most mobile phase right now owing to the lay offs and salary cuts during recession, it is the best time to hire the best talent around. The existing and upcoming professionals in apparel export industry sure have a reason to smile now.
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