India'S Global Share Of Clothing Declined: Meng And Vietnam Are Catching Up.
India Clothing Export Promotion Association (AEPC) released data show that 2009-10 India
clothing
Exports fell by 2.64% to $10 billion 640 million, compared with $10 billion 930 million in the last fiscal year.
According to the rupee, it has increased by only 0.37%.
2009-10 clothing
Exit
The total amount is 504 billion 790 million rupees, compared to 502 billion 930 million rupees in 2008-09.
However, in dollar terms, except for August and November July, exports in all months of 2009-10 declined significantly.
Mr Prem Udani, President of India garment export promotion association, said the garment industry was experiencing unprecedented rise in yarn and fabric.
In the past 4 months, the price of basic raw materials has increased by an alarming rate of 50-80%.
The textile industry has just shown signs of recovery, and has fallen into a bleak situation due to the high price of raw materials and the unstable supply of goods.
The India Garment Export Promotion Association asked the government to levy 15%.
Cotton yarn
Export duty.
Due to the rapid development of domestic demand for fabrics and yarns, the export of raw materials such as cotton and cotton yarns has led to millions of jobs lost in China.
The export of raw materials should be stopped as soon as possible.
MrUdani also asked to cancel 16% of the yarn import duty.
India's share of the global clothing market is decreasing.
Bangladesh clothing exports have surpassed India.
Next year, Vietnam will catch up with India.
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