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Domestic market gains prominence with upbeat textile industry
23
Jun '08
As China, the international leader in textile gets into a recession, the textile industry of India is gradually repositioning its dominance in the global market.

For the past few months China has been repeatedly attacked by rise in the cost of labor, yarn, fabrics and garments. In contrast, Indian market has driven back to its buoyancy with yarn exports in particular rising from 10 to 25 percent in the past two months.

Textile industry of India has spurred up the hopes of enhancing and expanding its production because of significant factors like dependence of global clothing companies on Asian countries and lower domestic export prices compared to the international market.

Since Chinese textile manufacturers have globally seized a major chunk of Indian textile industry, the direct and indirect support of Chinese Government has been of tremendous help to the Indian market.

Moreover, cheap labor and low domestic prices of raw materials has also gone a long way in attracting more international clients for the Indian exporters.

However, it is now imperative for local manufacturers to maintain their standards of high quality products and make timely deliveries to make most of this opportunity offered by recession in China.

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