Nepali clothing manufacturers are gearing up for a surge in demand from Asia.
They are planning to produce more than $5 billion worth of clothing in the next five years, up from $1.5 billion a year earlier, according to the Nepal National Clothing Industry Development Committee (NNICDC).
This means that Nepali apparel exports to overseas buyers will grow from $4.7 billion last year to $6.3 billion by 2020.
“It’s going to be a boom for the industry,” NNICDC chairman, Anand Pandya, said.
“We are looking to export about 10 per cent of our total output in the last five years.
That means the industry is set to become a big player in the global apparel market.”
That means there will be opportunities to export from Nepal to other parts of the world.
That’s a huge win for Nepali exporters.
The NNicDC is a group of apparel and textile manufacturers, which was created in 2014 to develop a viable, sustainable and fair industry. “
I think it’s going be very significant for the country,” he said.
The NNicDC is a group of apparel and textile manufacturers, which was created in 2014 to develop a viable, sustainable and fair industry.
It is an independent body with oversight of Nepali garment companies.
Pandya and other members of the group work closely with garment companies in Nepal, and they have pledged to invest heavily in their operations.
NNPCD also holds joint meetings with local and international textile manufacturers to discuss issues like tariff and import quotas, supply chains and labor conditions.
There are several initiatives to boost Nepali companies in the industry.
In 2015, Nepal opened a new textile plant to make garments for overseas buyers.
The company plans to hire 1,000 new workers, with the majority of the workers from Nepal.
The plant will be built on the former site of the previous plant that was used for textile production.
The factory is expected to produce 1.8 million garments annually, which will be sold through a network of partners.
“The new plant will increase the production of garments by 40 per cent to 60 per cent,” Nnocda said.
More than 60 per year, the NNocda says, garments are exported to South East Asia, Europe and the United Kingdom, as well as to Australia, Canada, Japan, India, South Africa and Vietnam.
NNCD also plans to establish a factory in the US.
In 2016, the organisation announced a plan to invest $10 million in an industrial park in Pune, India.
NNNIC is looking for other industries to expand their presence in Nepal.
It also has a plan for developing apparel in India.
“If we can get an expansion in apparel and garments, we can make up for the fact that we don’t have an actual apparel factory here in Nepal,” Pandya told ABC News.
“A good number of the apparel manufacturing companies in India are actually in India, but they don’t make the garments.
They produce other products, like handbags, shoes and apparel.
That would give us an opportunity to do a better job in India.”