India Hopes To Take 10% Of Its Clothing Export Business From China.
As the second largest industry in India to create jobs,
India garment industry
It now provides jobs for about 7 million Indians.
In addition, exports are also growing, which is good news for India's economy.
U.S.A
Demand growth provides support for 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.
In the last fiscal year (2010-11), clothing exports totaled 397 billion 870 million rupees in the first 10 months (January to January April), compared with 417 billion 710 million rupees last year.
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.
As western market demand grew, the government raised its export target.
The government believes that India has the potential to take India's share of world trade in 2020.
textile
And clothing share increased from 4.5% to 8%, 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.
Garment Export Promotion Association
(AEPC) chairman Premal Udani said that the exporters saw that their products were in good demand, and the business orders in the industry had been in the June 2011 to July. 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.
Exports began to grow in August 2010 after the deceleration of the first few months of the year.
Insiders say that
Labor cost in China
In addition, the marginal price difference between India and China is beneficial to India.
China's garment industry is also beset by delays in strikes and production.
If India can grab 10% of its business from China, India's clothing exports will double in the next few years, reaching US $20 billion.
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