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| Textile exporters face tough competition in US mkt: Study |
| Press Trust of India / New Delhi Jul 04, 2010, 13:05 IST |
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The Indian textile industry is facing tough competition in the US, as exporters from smaller countries like Bangladesh are cornering the lucrative market at a faster pace, a FICCI study said.
"In addition to China, countries like Indonesia, Vietnam and Bangladesh have managed to perform better than India in the US market in 2009," the study said.
Bangladesh, Indonesia and Vietnam managed to increase their share in the US textiles and apparel import in 2009 year on year at a faster rate than India.
India's share increased by 0.17 percentage points in 2009 over the previous year but share of Bangladesh, Indonesia, Vietnam and China increased by 0.5, 0.4, 0.67 and 4.3 points, respectively, the study said.
China accounts for about 37 per cent of the US's textiles and apparel import while India's share is less than six per cent. Vietnam has already surpassed India in the US market.
In the EU market too, India's textile export witnessed higher fall than that from countries like China, Turkey and Pakistan. India's textiles exports to EU fell by 15.7 per cent.
The US and EU accounts for India's 60 per cent textile exports. India's textile export in 2009-10 were valued at $20 billion.
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