Home / Knowledge / News / Apparel/Garments / India should tap apparel market ceded by PRC: top official

India should tap apparel market ceded by PRC: top official

12
Mar '20
Pic: Shutterstock
Pic: Shutterstock
The Indian industry should take advantage of the huge $20-billion space vacated in the global apparel market by China, which is facing a tough time due to the novel coronavirus outbreak, according to textiles secretary Ravi Capoor, who recently said domestic textile exports have plateaued during the past five to seven years, which is a worrying sign.

Addressing a symposium on emerging opportunities for Indian textiles, Capoor said though India stands with China with all its emotions and financial, political and diplomatic help, but the big economic opportunity coming up its way should not be ignored.

This is the perfect time to bring the industry together and have a small dialogue to see how the industry associations are prepared for this opportunity, he was quoted as saying by a news agency.

Around $20 billion worth of apparel space, mostly in the man-made fibre, was vacated by China in the past three years and that was taken away by Vietnam, he said.

If duty inversion is removed, man-made fibre itself becomes a huge opportunity, he said.

The domestic textile and apparel industry, including handicrafts, stood at $140 billion in 2018, of which $100 billion was domestically consumed, while the remaining portion worth $40 billion was exported to the world market.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 31st Mar 2020

UN calls for $2.5-trn rescue package for developing world

The COVID-19 pandemic will drive the world economy into recession...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Bangladesh seeks $1 bn from IMF, WB to face COVID-19

Bangladesh has recently sought $1 billion in support from the...

Pic: Shutterstock

Textiles | On 31st Mar 2020

Cambodia to explore FTA with EAEU with Russian help

Cambodian deputy prime minister Hor Namhong recently met Russian...

Interviews View All

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


March 2020

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


Advanced Search