| Date: |
08-07-2010 |
| Subject: |
Bangladesh surpasses India in apparel exports |
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A study conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) revealed that, during slowing demand, countries such as Bangladesh and Vietnam showed speedy recovery in textile exports as compared to India.
In the year 2009, textile and garment exports from India to US was reduced by over 10 percent, which was much deeper than the export plunge experienced by nations like Bangladesh, China, Vietnam and Indonesia, revealed the study.
Due to such a progression, Vietnam would acquire the position next to India in contribution to exports to the US, while other nations are gradually coming forward. Market share of India in US imports of textiles and clothing increased to 5.9 percent from 5.73 percent, during 2008-09.
While in case of Vietnam, market share has soared up from 5.53 percent to 6.2 percent. Bangladesh's yearly textile and garment exports to US stood at 11.5 percent in the past five years, and India's exports reached to 4.2 percent in the same number of years, as per FICCI.
Shipments of garments from Bangladesh to Europe grew by 3.6 percent in 2009 against 2008. While exports from India, China and Turkey were low, this widened the gap of market share, between Bangladesh and India.
US and EU markets account for over 60 percent of the Indian textile and clothing exports, and therefore, they are the key markets for these exports of India.
Source : Fibre2Fashion
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