India'S Textile And Garment Industry Is Shifting To Emerging Markets.

Over the years, the India textile industry has gradually established its position in the international market through exports to the US and Europe.

But since 2008, the European market economy has been sluggish, and the textile industry in India has also been affected.

In order to consolidate the competitiveness of the external market, the India government has implemented a series of measures to strengthen the development of new markets in recent two years. Bangladesh and China have become new export destinations for India's textile and clothing products.

According to the data provided by Geneva Global trade information bureau, India cotton textiles (yarn, cloth and finished products) accounted for more than 60% of exports to Europe and the United States in 2008~2009, and now it has dropped to less than 45%.

Other countries and regions in the world (non US and European markets) are emerging as new markets for textile exports in India, such as Bangladesh, China, Sri Lanka and South Korea.

Insiders pointed out that in the period of sustained economic downturn in Europe and the United States, other Asian consumer markets have made up for the decline of India's textile and apparel market in Europe and the United States.

It is understood that in 2010~2011, India textiles exported to Europe and the United States about US $3 billion and exported US $3 billion 782 million to other regions and countries in the world, far higher than US $2 billion 26 million exported two years ago.

Knitted apparel and accessories also showed the same trend. India's exports to the European market decreased to about US $2 billion 153 million in two years, while exports to other emerging markets increased.

In the past two years, India clothing exports to the US market have not declined.

However, the export scale of some smaller markets has increased significantly, and the clothing export to the UAE has increased from 368 million US dollars to 511 million US dollars two years ago. The export to Australia increased from 15 million US dollars to US $32 million, and the export volume to Djibouti increased by 13 million US dollars from scratch.

India textile industry executives said the deterioration of demand in the major markets not only hit India's $62 billion textile industry, but also made India lose competitiveness in the downturn of the global market.

Siddharth Rajagopal of Texprocil, an export promotion agency in India, said that intra Asian trade is showing an increasing trend, and the consumption momentum of these countries will be more and more prosperous.

"In the current situation, India textile industry needs more efforts to develop new markets and diversify the export market, so as to alleviate the pressure of low market demand in Europe and the United States."

Siddharth said.

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