India Textile And Leather Industry Returns To Health Track

MrDKNair, director general of India textile industry alliance, told Fibre2fashion that textile exports have improved significantly in recent months.

According to the latest figures of the business intelligence Statistics Board, India textile and clothing exports increased by -12 in April 2007 compared with the same period last year. The Chinese textile industry was hit hard by internal pressure, such as the increase in production costs and the appreciation of the renminbi in April 2007.

But for India, China's industrial setbacks have turned into the gospel of India's textile industry. India's textile exports have begun to improve, while rupees have depreciated and orders from the United States are increasing.

According to us statistics, in January 2008 -3, exports of textiles and clothing to the United States increased by 4.59% over the same period last year, showing a seasonal rebound. During the same period, global textile imports in the United States dropped by 3.84%, and imports from China decreased by 5.39%.

But the cotton yarn situation is not optimistic.

In January -3, China's exports of yarn to the United States increased by 13.62%, while India's exports to the US increased by 12.90%.

MrNaoir believes that the possibility of improvement in the export of textiles and clothing products in India is partly related to the currency trend in India.

This year, the India rupee has risen from 45 rupees to about 38.50 rupees. Now rupees are beginning to depreciate to 43 rupees to one dollar.

There are signs that the rupee may remain weak in the rest of the year.

Meanwhile, China's currency has continued to appreciate in recent months.

In May this year, China's RMB against the US dollar has appreciated by about 9% over the same period last year.

Vietnam's currency devaluation has robbed many of China's textiles and clothing business, but now Vietnam's currency has begun to appreciate.

The Dong shield continued to depreciate in the past 3 years, but in May 2008 it increased by 1.21% compared with the same period last year.