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India catches up with Bangladesh

Readymade garment exports from Vietnam in 2014 were 20 billion dollars, which rose to 24 billion dollars in 2015 and 28 billion dollars in 2016.

China is the largest exporter of readymade garments and basic textiles in the world. Its main exports are clothing and other value-added textiles. In 2014 its textile exports were 254 billion dollars that increased to 264 billion dollars in 2015, but decreased to 254 billion dollars in 2016.

Previously, China was exporting low value-added apparels but when the world's second largest economy lost its market to Bangladesh, India and Vietnam, it shifted to higher value-added clothing.

Indian textile exports in March to April 2014 amounted to 32 billion dollars that increased to 37 billion dollars in 2015 and declined to 36 billion dollars in 2016. India is also a major exporter of basic textiles (yarn and fabric) but is moving up rapidly in the clothing sector. It lost a sizable market in basic textiles but made up the loss by gaining markets in the clothing sector.

Growth of readymade garment exports from India and Vietnam has been bigger than those from Bangladesh, the world’s second largest readymade garment exporter, over the last three years.

 
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