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US Demand Growth Supports India'S Clothing Exports

2011/8/30 18:20:00 36

As the second largest industry in India to create jobs, India's clothing industry is now providing about 7 million Indians.

Obtain employment

Opportunity.

In addition, exports are also growing, which is good news for India's economy.

US demand growth supports India's clothing exports.

In February 2011, India's clothing exports increased by 24% over the same period last year, reaching 52 billion 840 million rupees, compared with 18% growth in January 2011.

Although exports declined in the first month of 2010-11, the export situation began to improve in November 2010.

In the first 10 months of last fiscal year (2010-11), clothing exports totaled 397 billion 870 million rupees in April (-1 months), compared with 417 billion 710 million rupees in the same period last year.

In fact, encouraged by the remarkable growth in exports, the Federal Minister of textiles

Rita Menon

Recently, the target of textile exports increased to about $30 billion in the current financial year, compared with $25 billion last year.

As western market demand grew, the government raised its export target.

The government thinks India has

potential

In 2020, the share of India's world trade in textiles and clothing could be increased from 4.5% to 8%, to $80 billion.

India has the largest number of looms in the world. India has 1 million 800 thousand looms (45% of the world's total) and 200000 shuttleless looms (3% of the world's total).

3 million 900 thousand manual looms (85% of the world's total), the number of spindles in India is the second largest in the world, accounting for 23% of the world's total.

PremalUdani, chairman of the garment export promotion association (AEPC), said exporters saw that their products were in good demand, and the industry orders had been in the -7 month of June 2011. This is a particularly good situation for the textile industry.

The US market has a very good demand for India products.

European market demand is also improving.

The United States accounts for 40% of all clothing exports in India.

Exports began to grow in August 2010 after the deceleration of the first few months of the year.

According to the insiders, China's labor costs are rising, and the marginal price difference between India and China is conducive to India.

China's garment industry was also postponed by strikes and production.

Worry

。

If India can grab 10% of its business from China, India's clothing exports will double in the next few years, reaching US $20 billion.