The European Financial Crisis May Cause India'S Clothing Exports To Decline By &Nbsp; 15%
The euro zone's financial crisis hit India's clothing exports.
Despite recent signs of recovery in the US market, orders from Europe have declined markedly.
Orders from Italy and Spain almost become zero, and total exports of clothing in India may be reduced by 15%.
India
Textile exports are about US $25 billion.
Among them, clothing
Exit
13 billion dollars, the remaining 12 billion dollars is made of yarn, fabric and finished products.
In the current financial year, fabric exports are expected to decrease by 5%.
Premal Udani, President of AEPC, said: "Europe's demand is sluggish, and Europe is the biggest buyer of clothing in India.
Italy and Spain buy much less.
The US market is slightly better than Europe, and there is some recovery in US demand.
We expect clothing exports to fall by 15%. "
Male clothing, generally including bulk orders, has fallen significantly.
The number of orders for women's clothing is not very large.
Insiders say that some exporters are expanding their domestic market now because western demand is slowing down.
Though China has been global for a long time
textile
Market leader, but in recent months Bangladesh and Vietnam have always been superior to India in value-added products, although India's textile industry has better integration.
Lower labor costs are their advantages.
Although China is managing the domestic inflation rate, China is facing the risk of currency appreciation and rising production costs.
Bangladesh is a low cost market. The United States and Europe are moving orders to Bangladesh.
Rupp
Exports of knitted apparel reached 120 billion rupees, and exports are expected to drop by 15% this year.
Sakthivel, President of the Rupp Exporters Association, said the market is expected to improve in the autumn.
Nair, Secretary General of the India textile industry alliance, added: "the cotton market has not been affected by the slowdown in the US and the UK because the spinning industry is dependent on exports to Bangladesh, China, Hongkong and South Korea.
However, fabric exports have dropped by 5%.
In addition to the US and Europe, India also exports fabrics to Latin America, Southeast Asia and South Asia.
"
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