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A golden opportunity for India to seize the textile and clothing market

The rising industrial wages in China offer India an opportunity to seize the $284 billion of textiles and another $443 billion of clothing market. But India needs to first address the regulatory mess that successive governments have created over the years.

A series of imprudent regulations on fiber, wages and trade policy have made India mainly a supplier of raw material. It’s no surprise that India’s apparel export accounts for 40 per cent of its total textile export.

India’s export of $40 billion lags far behind China’s $269 billion despite its long history and obvious advantage in raw material and labor. Between 2000 and 2010 China doubled its global export share in apparels from 18.2 per cent to 36.4 per cent, but India’s share inched up from 3 per cent to 3.2 per cent. Again, between 2010 and 2016 China was able to retain its global market share at 36 per cent, Bangladesh could increase it from 4.2 per cent to 6.4 per cnet, Vietnam almost doubled it from 2.9 per cent to 5.5 percent, but India managed to raise it from 3.2 per cent to 4 per cent.

 

 
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