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Tuesday, 15 February 2022 14:30

India to surpass Indonesia in apparel exports to the US: OTEXA

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Validating a projection made by Apparel Resources in 2020, OTEXA says, India will surpass Indonesia in apparel exports over the next decade. India’s garment exports surpassed Indonesia’s shipments for the first time in 2021, as per an Apparel Resources report. During the year, India exports garments worth $4.19 to the US while Indonesia shipped apparels worth $4.14 billion.

India’s apparel exports remained buoyant all through 2021, helped by strong orders and revival of global retail industry. Apparel exports to the US grew 36.92 per cent during the year, leading amongst the top five apparel export destinations to the country. It was followed by Bangladesh whose exports surged 36.70 per cent, China which recorded a 29.40 per cent rise in exports, Indonesia with an export surge of 17.92 per cent and Vietnam with export rise of 14.33 per cent. India’s positive performance in its top apparel export market resulted in the country’s apparel exports to the US growing by 24 per cent y-o-y to $15.21 billion.