NEW DELHI, June 3 — India ranks as the world’s second largest textiles exporter last year, ahead of its competitors like Italy, Germany and Bangladesh, with China still retaining the top position, according to data released by UN Comtrade.
Currently, India’s textiles exports to the world is US$40.2 billion. India’s share in Global Textiles has increased by 17.5 per cent in 2013 compared to the previous year.
This growth is phenomenal as the global textiles growth rate is only 4.7 per cent compared to India which registered growth of 23 per cent versus China and Bangladesh which registered 11.4 per cent and 15.4 per cent, respectively.
“Despite having slow recovery in the US and EU, our biggest traditional markets as well as prevailing global slowdown coupled with sustained cost of inflationary inputs, we made the best possible efforts to reach here,” Apparel Exports Promotion Council’s Chairman, Virender Uppal said.
“The government policy of diversification of market and product base has helped us and we ventured into the newer markets, which paid huge dividends,” he said.
“We also leveraged our raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India.”
Total global textiles exports stood at of US$772 billion with India commanding 5.2 per cent of the share. This is largely due to the growth in the Apparel and Clothing sector which accounted for the almost 43 per cent of the share alone, the Ministry of Textiles said in a statement.
The Apparel Exports ranking has also improved to 6th position in 2013 from 8th in 2012. India’s apparel exports stood at US$15.7 billion in 2013, as against US$12.9 billion in 2012.
Among the top five global clothing suppliers except for Vietnam; India’s Apparel Exports growth was the highest registering 21.8 per cent growth during 2013.
Apparel exports from India accounts for 3.7 per cent of the global share of readymade garment exports, the ministry added.
— BERNAMA
