India became the second largest exporter of textiles in the world: UN Comtrade
India became the second largest exporter of textiles in the world. This was revealed by the recent data released by UN Comtrade
India became the second largest exporter of textiles in the world. This was revealed by the recent data released by UN Comtrade in Global Textiles as well as Apparel Exports.
Global Textile Exports
- In Global Textiles Exports, India overtook Italy to become the second largest exporter. China still remains the largest exporter of textiles in the world.
- India’s share in Global Textiles increased by 17.5% in the year 2013 compared to 2012. As a result India's share in the global textile exports in 2013 is 5.2%
- Currently India’s textiles exports to the world stand at 40.2 billion US dollars.
- Indian textile exports grew by 23%. This is in contrast to global textile growth rate of only 4.7%, and China and Bangladesh growth rate of 11.4% and 15.4% respectively.
- This growth in the increase in share of the textiles exports from India is mainly due to the growth in the Apparel and Clothing sector which accounts for almost 43% of the share alone.
- In the apparel exports ranking of India improved from 8th position in 2012 to 6th position in 2013.
- India’s apparel exports, was to the tune of 15.7 billion US dollars in 2013, as against 12.9 billion US dollars in 2012.
- Among the top five global clothing suppliers except for the Vietnam; India’s apparel exports growth was highest registering 21.8% growth during the year 2013.
- Apparel exports from India accounts for 3.7% of share in the global readymade garment exports
The improvement in the position of India in both the textile exports and apparel exports is the result of the Government policy of diversification of market and product base. Besides, India also leveraged its raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India.
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