India: Market Competitiveness Lacks Impact On Clothing Exports

In the highly profitable global garment export market, India continues to be weak and has slipped to fifth place, according to the new ranking issued by the world trade organization.

Data show that in 2010, clothing exports in India dropped sharply by 6%, which is the main factor of the year.

In terms of total clothing exports, Bangladesh and Turkey have climbed to India before Vietnam.

Home textiles

If we consider the export of home textiles and clothing, India will remain at third place in last year's list of major exporters, far behind China and the European Union.

This is mainly because the exporters in India have shown great strength in home textiles, which include bedspreads, household linens and curtains.

Overall, according to these data, global textile and clothing exports increased by 15% from 525 billion US dollars in 2009 to US $602 billion in 2010. Despite the downturn in the US economy, the debt crisis in the euro area began to bud.

In 2010, India gradually became the second largest supplier of textiles and clothing in the world, second only to China.

In terms of household textile products, India's export boom increased by 41% in 2010.

In terms of the largest exporter of home textiles, India ranks third, second only to China and the EU, ahead of the United States.

Lost to Vietnam and Indonesia

Although the export of home textiles in India is sparkling, analysts say the loss of competitiveness in clothing and clothing is stern, because these products are more profitable than domestic textile products.

The market trend in the early 2011 indicates that India will abandon more markets to Vietnam and Indonesia in the US market in terms of textiles and clothing products, while Bangladesh is rapidly gaining market share in India. This is because Bangladesh enjoys the advantage of exporting zero tariffs to the EU by the EU.

In the 2000-2010 years, Vietnam has become one of the five largest exporters of textiles and clothing.

Vietnam's exports grew by 20.3%, because China invested heavily in Vietnam.

China's growth rate reached 14.8%, Bangladesh reached 12%, Turkey reached 7.8%, and India's growth rate was 7.6%.

In the 2000-2010 years, China's share in the global export market increased from 14.8% to 34.3%, the share of India increased from 3.3% to 4%, Turkey's share increased from 2.9% to 3.6%, Bangladesh's share increased from 1.6% to 2.8%, and Vietnam's share increased from 0.6% to 2.2%.