Foreign companies to accelerate Indian apparel export

Export of Indian textile is all set to grow in the coming years. A large number of foreign multinational companies have been eyeing Indian apparel market after the "dismantling" of the Multifibre Arrangement (MFA) beginning this year.
Senior economists at the prestigious Economic Research Service of the US Department of Agriculture - who are keeping a close tab on India's textile market — conclude that the foreign companies would play a key role in accelerating the export of Indian apparel and other related products.
A case in the point is the decision of the Wal-Mart to purchase goods mainly apparel and related products worth $7-$10 billion (Rs 3,150 crore to Rs 4,500 crore) from the Indian market in the next two years.
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