VISAKHAPATNAM: “India is a giant in the IT sector. But, it cannot merely depend on it forever.
The production sector has to grow to match the dynamic economic growth of countries like China. And the biggest opportunity in the production sector lies in garment exports,” opined M.T. Moon, Managing Director of South Korea-based sewing machine manufacturer Sunstar at a press meet here on Thursday.
He said that the annual export of garments from India was about 9 billion USD which was only 2 per cent of the global market. “Countries like China, Vietnam and Bangladesh are ahead of India in this sector.
The share of China has touched 25 per cent already but there is much room for India to develop,” he said. Mr. Moon was here along with their South Indian service partner Alpine Knit India to showcase the latest automated machines from Sunstar. The Korean company manufactures over 3 lakh industrial sewing machines and 8,000 fully programmed embroidery machines.
Managing Director of Alpine P. Vikram said that the success of garment industry depends on the high productivity rate, and for that machines play an important role. “The basic sewing machine from Sunstar can accommodate around 4,000 to 5,000 stitches per minute and each sewing machine can give productivity to the tune of 10,000 USD annually,” he said.
In South India itself, Sunstar supplies some 10,000 machines per year and the cost varies from 300 to 15,000 USD. Mr. Moon said the garment industry was labour-intensive with less pollution and India had all the ingredients to make it big in the global market. Visakhapatnam, in particular, had immense potential logistically, he added.