POLITICAL AND ECONOMICAL
The world’s largest democratic country ,India, has a multy party system. Currently the Congress party (the oldest political party of the country) is the ruling party. Headed by Dr. Manmohan Singh , Prime Minister of India, and a man of great economic vision.
It was same Dr. Manmohan singh, who in year 1991 was the then Finance Minister ofIndia, who brought in economic liberalization, since then there has been a mammoth turnaround in Indian economy. He at that time relaxed many foreign investment policies, which have now proved the ladder for the growing economic condition ofIndia.
With current Share Index again being bullish after a great economic slump, lowered inflation, increased GDP, has madeIndia a very strong economic country.
How-ever after the currentU.S. recession and decrease in demand along with rising cotton prices has given a little set back to the Indian exporters. This definitely affects the future business as well. And with the increasing cotton prices globally, has added some fuel to the fire, however the government and the industry of its own are holding hands to overcome these unavoidable circumstances. They are trying to take some positive steps to suppress the loss on Indian exports. Other economic avenues too are being worked out by the Government of India for the benefit of the textile and apparel Industry.
With the maximum provider of employment , Garment had been the key export earning forIndiatill a few years back , till I.T. took over.
H.ever till date there has been keen interest taken by the government , to make sure this industry is fully helped for the benefit of the exporters.
Though currently there has been a slow phase of export orders being booked, there are many other factors contributing to this slow down. But with political scenarios inEgyptand some Middle Eastern countries, there has been now in past few weeks, a turn around and future markets looking stronger forIndia.