India ranks second in global textiles exports
Virender Uppal, AEPC Chairman, expressed his happiness over this impressive growth and stated that, “Despite having a slow recovery in our biggest traditional markets the USA and the EU, as well as prevailing global slowdown coupled with sustained cost of inflationary inputs, we made the best possible efforts to reach here. The Government policy of diversification of market and product base has helped us and we ventured into the newer mar- kets, which paid huge dividends. We also leveraged our raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India.”
India’s share in global textiles increased by 17.5% in the year 2013, as compared to the previous year. India’s textiles exports to the world currently is US$40.2 billion. This growth is phenomenal as the global textiles growth rate is only 4.7%. India, on the other hand, has registered the growth of 23%, beating China and Bangladesh, which has registered 11.4% and 15.4%, respectively.
The total turnout for global textiles exports is approxi- mately US$772 billion, with India commanding 5.2% of the share. This growth in the increase in share of the textiles exports from India is largely attributed to the growth in the apparel and clothing sector as it accounts for the almost 43% of the share alone.
India has improved its ranking as per the recent data released by ‘UN Comtrade’ in Global Textiles as well as Apparel Exports. In global textiles exports, India now stands at second position beating competitors like Italy, Germany and Bangladesh, with China however, still retaining its top position.