Textile development and trade have been India’s forte since centuries. The last few decades have also seen the growth and development of the Clothing or Garment Industry. India’s garment industry has achieved worldwide prominence as a source of clothing that combines the latest global fashion trends with exquisite designs, inspired from local culture. In reaction to the drastic changes, SMEs play an essential position in growing us to a better level. The objectives of the study are to evaluate the impact of cost control and cost reduction on the profitability of Garment Manufacturing SMEs, to evaluate various cost control techniques and their impact on Garments Manufacturing SMEs and to verify cost control and reduction as a competitive strategy for profitability & growth SMEs. However, the sector has always struggled due to the burden of challenges. Quality Assurance is the systematic monitoring and evaluation of the various aspects of a project, service or facility to maximise the probability that standards of quality are being attained by the production process. The cost reduction has impacted positively on the profitability of the garments manufacturing SMEs in Mumbai Suburban Area. Garments Manufacturing SMEs reduce overhead manufacturing costs with build-to-order and mass-customised inventory as cost control provides appropriate and system oriented information to control the activities of the company which operates in a competitive environment. Findings are based on data collected from different sources and data analysis done by applying various tools. In the light of outcomes, few samples selected for the study for proving the hypotheses by using the correct testing methods. The study highlights the optimum utilisation of cost categories like material and people which lead to maximum profitability. The techniques / strategies are really favourable in cost control to achieve reasonable profitability.