The developing country like China and India, they have substatial production industries in both areas- Textile and Apparel. China and India are the world's largest and leading single country exporter of textile and apparel.
Nature of Developing Country
Newly developing country like India has GDP( Gross Domestic Product) below the average level. The citizens commonly have low level income, high levels of unemployment, high illiteracy rate and the large proportion of the population lives in poverty and because of high unemployment wages are low. Start up costs for the apparel industry are competatively low and short training times. The Apparel industry requires labour- intensive production, therefore newl developing countries are ideal location.
The greatest real growth of wealthy individuals in the BRIC countries and they are buying the luxury goods faster and better than they do any other category.
Global Luxury consumers by region 2005.
Source : Ernst & Young cited in Deutsche Bank 2007, Luxury Goods.
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