Home / Knowledge / News / Textiles / India's textile exports to newer markets rising
India's textile exports to newer markets rising
14
Nov '11
India's textile exports to new and non-traditional markets have increased during the last couple of years.

For several years, the Indian textile industry greatly relied on its major export markets of EU and the US. However, after the 2008 global economic meltdown the Indian industry became circumspect about relying much on these western markets, and began exploring newer export markets.

Over the past couple of years, the Indian textile industry has been successful in its endeavour of increasing its exports to new markets. It is evident from the statistics of Global Trade Information Services, Geneva, according to which, the country's cotton textile exports, including made ups, yarn and fabric towards the EU and the US have come down to below 45 percent over the past two years form over 60 percent in 2008-09.

In comparison to the decrease in textile exports to traditional markets, India's textile exports to emerging markets like China, South Korea, Sri Lanka and Bangladesh have gone up considerably during these years.

During last fiscal, India exported around US$ 3,000 million worth of textiles to the EU and the US, exactly the same quantum shipped to the two economies in 2008-09. However, exports to other countries grew from US$ 2,026 million in 2008-09 to US$ 3,782 million during 2010-11.

According to experts, owing to a rapid rise in consumption, trade with intra-Asian markets is bound to increase. In addition, India's domestic consumption is also rising at an annual rate of seven percent.

Exports of other textile segments like clothing accessories and knitted apparels are also following a similar trend. From India's overall exports in these segments of around US$ 4,775 million, exports to the EU markets have dropped to around US$ 2,153 million over the past two years. Also, there has not been any increase in its export levels to the US during the period.

On the other hand, exports to smaller markets greatly stimulated India's apparel exports since the onset of financial crisis. While exports to Australia jumped from US$ 15 million two years ago to US$ 32 million, exports to UAE rose from US$ 368 million to US$ 511 million and those to Djibouti from nil to US$ 13 million.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X