India's Global Share Of Clothing Declined: Bangladesh And Vietnam Are Catching Up.

According to the data released by India Garment Export Promotion Association (AEPC), India's clothing exports decreased by 2.64% to 10 billion 640 million US dollars in 2009-10, compared with 10 billion 930 million US dollars in the last fiscal year.

According to the rupee, it has increased by only 0.37%. 2009-10 the total export volume of clothing was 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 Council asked the government to levy a 15% export tax on cotton yarn. 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 garment market is decreasing. Bangladesh clothing exports have surpassed India. Next year, Vietnam will catch up with India.