Textile exports to US, EU increase in Jan-May.

Textiles and garment exports from the country to the US and the EU countries have increased by 1.61 and 11.66 percent, respectively for the period January-May this year compared to the corresponding period in 2009, said Minister of State for Textiles, Panabaaka Lakshmi on Thursday.

In a written reply to the Lok Sabha, the minister further added that the government has already initiated action, in cooperation with the Textile Export Promotion Councils, to increase market share in Japan, West Asia, Africa and Australia.

The initiatives will include holding of Brand India Textiles Mega Shows, Buyer-Seller-Meets and participation in high profile textiles fairs and exhibitions in these countries, she said.

Indian garment exports declined 2.64 percent in 2009-10 to USD 10.64 billion compared with USD 10.93 billion in 2008-09. This fall in exports was primarily due to fall in exports to European markets, a flat growth to the US and price competition from countries like Bangladesh and Vietnam

India exported garments worth USD 5.68 billion to EU, accounting for 55 percent of the country's total apparel shipments in the calendar year 2009, as per AEPC data.

The US, another major market for Indian textiles, accounts for 30 percent of the country's total apparel exports.

Source : smetimes.tradeindia.com