India Hopes To Take 10% Of Its Clothing Export Business From China.
As the second largest job creation industry in India, the India garment industry now provides employment opportunities for some 7 million Indians. 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. The first 10 months of last fiscal year (2010-11) (April -1) clothing
In fact, inspired by the remarkable growth in exports, federal textiles minister Rita mehnon recently said that in the current financial year, the target of textile exports increased to about 30 billion dollars, compared with $25 billion last year. Because of the West
The government believes that India has the potential to increase the share of textiles and clothing in India's world trade from 4.5% to 8% in 2020, to 80 billion US dollars. 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. In 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.
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