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India eyes global pie of Chinese apparel trade
27 Oct '11
2 min read
“India's garment exports could double in the next few years, if India could grab 10 percent garment business from China”, said a top Indian apparel association official.
The Indian textiles and garment industry is the second largest employing sector in India and currently provides about seven million working opportunities for Indians.
Buoyed and encouraged by significant export growth in recent months, the Textiles Secretary – Rita Menon said recently that textile and clothing export target has been increased to about US $30 billion in the current financial year, while this figure was US $25 billion last year.
The Indian government believes that India has the potential to increase its share of world textiles and clothing trade from current 4.5 percent to 8 percent by 2020 and touch US $80 billion.
India has 1.80 million weaving looms, the world's largest base, accounting for 45 percent of worldwide looms. Of which, 200,000 are shuttleless looms (3 percent of world total). India has the second largest number of spindles in the world, accounting for 23 percent of the world total.
Apparel Export Promotion Council (AEPC) Chairman Premal Udani recently said, “The United States presents good demand for Indian products and accounts for 40 percent of India's apparel exports. European demand is also improving”
He added by saying, “India's garment exports could double in the next few years, if India could grab 10 percent garment business from China”.
The Indian textiles and garment industry is the second largest employing sector in India and currently provides about seven million working opportunities for Indians.
Buoyed and encouraged by significant export growth in recent months, the Textiles Secretary – Rita Menon said recently that textile and clothing export target has been increased to about US $30 billion in the current financial year, while this figure was US $25 billion last year.
The Indian government believes that India has the potential to increase its share of world textiles and clothing trade from current 4.5 percent to 8 percent by 2020 and touch US $80 billion.
India has 1.80 million weaving looms, the world's largest base, accounting for 45 percent of worldwide looms. Of which, 200,000 are shuttleless looms (3 percent of world total). India has the second largest number of spindles in the world, accounting for 23 percent of the world total.
Apparel Export Promotion Council (AEPC) Chairman Premal Udani recently said, “The United States presents good demand for Indian products and accounts for 40 percent of India's apparel exports. European demand is also improving”
He added by saying, “India's garment exports could double in the next few years, if India could grab 10 percent garment business from China”.
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