India upped textile exports to US & EU significantly post MFA

31 Jan '07

2 min read

India's textile exports to US and EU has gone up by 9.1 per cent 14.6 per cent respectively during 2006 as compared to the previous year and the prospects for notching up further market share is bright, according to Mr Munir Ahmed, Executive Director, International Textiles and Clothing Bureau, Geneva.

While addressing the Second Asian Textile Conference (ATEXCON) 2007 organized by the Confederation of Indian Textile Industry (CITI), Mr Ahmed observed that among the top exporters to the US and EU are some of the Asian countries that were otherwise predicted to be major causalities of the expiry of the quota regime.

Bangladesh, Cambodia and Sri Lanka were mentioned as the major causalities even in studies brought out by World Bank, IMF, WTO and others. But the doomsayers were proved wrong. Bangladesh textile exports to US have grown by 23.1 per cent and to EU by a still more impressive figure at 32.5 per cent during 2006 as compared to the previous year. Cambodia's exports to the US market grew by 26.3 per cent. Sri Lanka also stood its ground while exporting to the US.

Mr Ahmed also said that other than India, the Asian countries, which have upped their exports to the US and EU markets are China, Indonesia, Pakistan and Vietnam. Curiously, some of the countries predicted to do well in their exports to EU and US after the phasing out of the MFA, on account of their preferential tariff access to the markets, had seen either their exports stagnating or decline.

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