%0 Journal Article
%T Changing Structure of Indian Textiles Industry after MFA (Multi Fiber Agreement) Phase out: A Global Perspective
%A Dr. Asiya Chaudhary
%J Far East Journal of Psychology and Business
%D 2011
%I 
%X Indian textile enjoys a rich heritage and the origin of textiles in India traces back to the Indus valley Civilization where people used homespun cotton for weaving their clothes. If we talk about the Indian Textiles Industry in the present era, it is one of the leading industries in the world. The WTO has played an important role in the growth and development of the textiles industry at global level. Various steps have been taken to uplift the sector. In the year 1995, WTO had renewed its MFA and adopted Agreement on Textiles and Clothing (ATC) which stated that all quotas on textiles and clothing shall be removed among the WTO member countries by 2005. The MFA phased out and the textiles trade got integrated in to GATT provisions by 2005. The world T&C export had grown from US$ 272.43 billion in 1994 to US$ 530 bn in 2006, registering almost a two-fold rise. World textile and clothing trade rose by 9.7% to US$530 bn in 2006, by 10.6% to US$583 bn in 2007. As expected, the implementation of ATC had brought about structural changes in the international trade arena on textiles & clothing. In the years, during the post-quota period, India has emerged as a major sourcing destination for new buyers. As a measure of growing interest in the Indian textile and clothing sector a number of buyers have opened their sourcing/ liaison office in India. The paper focuses on the changes in the Textiles exports of different countries after the MFA (Multi Fiber Agreement). Special focus is on the Indian Textiles Industry and its position in the world in terms of textiles and clothing exports. The paper explores the changes in the exports and profits of the Indian textiles exporters. Further it investigates the role of FDI in the industry and what Indian Government is doing for the promotion of the industry.
%K Textiles Industry
%K Multi Fiber Agreement
%K Agreement on Textiles and Clothing
%K World/Global Trade
%U http://www.fareastjournals.com/files/V2N2P1.pdf