Home / Knowledge / News / Textiles / Exporters make headway for US market share of China

Exporters make headway for US market share of China

25
Apr '08
The incompetency of Chinese textile and clothing industry is an incredible advantage for Indian exporters who can now make the most of the potential US markets in the absence of one of its most strong competitors.

After a year of upheaval caused by plaguing rupee appreciation, India sets about afresh, for expanding its prominence in the US market. The local textile and clothing sector witnessed a negative growth in US market for as long as nine months up until December after which it posted a marginal growth of 0.53 percent in January 2008.

However, it was only in February that the turnaround became more evident as the country posted a remarkable 8.26 percent growth.

Strikingly, China, whose textile and garment exports to America worth US $32.3 billion far outweighed India's meager $5.1 billion, recorded a negative growth of -2.57 percent in January-February of 2008. Infact, it will be for the first time in over a decade that the country has seen such a downfall.

The present situation reflects a decline in the textile industry of China as the raw material base is shrinking continuously.

Moreover, cotton consumption of the country is three times over that of India while its area under cultivation is getting reduced unceasingly. This has impelled China to import about 45 lakh bales from the latter. Increasing wages of labors has also played a vital role in worsening the situation which was already grim.

Besides, even on the exchange rate front, yuan appreciated by 8.52 percent between March 2007-08 against rupees which rose by 8.36 percent during the same period. Presently, the only respite China has is of indirectly exporting its goods to US via Vietnam. However, experts believe that even this is on the verge of coming to a halt leaving a major part of US market open for countries like India.

Now, it is up to the India Government to design fiscal policies in a way so that domestic exporters can make the most of the opportunity that has come their way.


Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Marco Girola,

Marco Girola

With its commitment to innovation and deep technical expertise,...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Lin Jing,

Lin Jing

Jiangsu New Victor is a Chinese mechanical equipment manufacturing...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search