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India'S Textile Exports To The US Are On The Decline.

2011/6/30 15:51:00 40

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The United States is the largest garment export market in India, but India's status as the leading exporter of clothing in the United States is being weakened. This is only a matter of time.

Official data show that in January -4, Vietnam, Indonesia and Bangladesh have squeezed India out of the top five.

Exporting country

Family camp.

Although the renminbi is strong and the economy is developing at a high speed, China is still the largest supplier country in the US market.

Vietnam and Indonesia both benefit from China's investment, which is very important. China's investment helps these two economies to use cheap labor as the main export country.

Bangladesh also seems to benefit from this advantage. Bangladesh's friendly foreign investment policy also promotes clothing exports.

What can India learn from the pformation of export competitiveness?

Losing the leading position is nothing new: a FICCI study last year showed that Southeast Asian countries and Bangladesh, together with China, have been growing faster than India in the US market since 2004.

From the overall situation after the recession in September, India's textile and clothing exports declined due to declining demand; in fact, FICCI's research shows that the above countries are still creating healthy growth records compared with India and China, while China is leading the group.

Then, in 2009, Vietnam.

market

The share exceeds India.

India was once complacent about its status as a major exporter of textile products, and exporters are very sensitive to government policies, either in terms of currency appreciation or market weakness.

However, efforts to maintain competitiveness through technological innovation or product innovation are far lower than those in other countries.

That's the problem.

Because of the economic growth, India's wages must rise. The way to defeat the competition of cheap labor is to increase productivity and enhance the value chain.

With the improvement of consumer awareness, while developing newer and more eco-friendly fabrics, India exporters must pay attention to dyeing pollution and child labor.

What the India textile industry needs to bear in mind is not just exports, but also

domestic market

It should also be affected by cheap imports from other countries. Now these countries are taking away the market share of the United States and the European Union.

Textile companies should not cry over such import barriers. They should insist that suppliers in Bangladesh and Indonesia abide by the same ecological and social conditions that the western market requires India to abide by.

The latest US Department of commerce data confirm the obvious trend in the past few years.