Demand For India Textile Exports To The US May Increase By 10%

India government joint textile Commissioner Shashi Singh said that as of March 2008, India's total textile exports to the United States increased by about 10%.

At the India American Seminar on prospects and problems for small and medium enterprises, she told the media that the rupee rose in the first few quarters of the year from 2007 to 2008, and exports fell, but India's exports to the United States seemed to improve in January and February, almost 2%.

She said the reason for the improvement in demand was that China's exports to the US slowed down.

The appreciation of China's domestic currency and the increase of labor costs have squeezed China's profit margins, so China's exports have begun to decline.

At present, China's textile exports to the US account for almost 25-30%.

India's exports can hardly be raised to this level immediately because production capacity is unable to meet demand.

The textile and garment industry in India is improving, and the textile and garment industry is accepting new standards.

Earlier, 80% of India's trade was settled in US dollars, she said.

But now most businesses are switching to other currencies, such as the euro.

From 2006 to 2007, the total market size of India textile industry was 54 billion US dollars, domestic demand accounted for 65%, US $35 billion, exports accounted for 35%, US $19 billion (exports to US $5 billion), while imports accounted for 5%, 2 billion 760 million US dollars.

Ms. Singh expects that the textile industry will grow to US $115 billion in the next five to 2011-2012 years, with an export ratio of about 48%, reaching US $55 billion.

During this period, the total investment scale was US $37 billion.