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The European Financial Crisis May Lead To A 15% Drop In Clothing Exports In India.

2011/12/28 9:51:00 10

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European Financial Crisis India'S Clothing Exports Decline

The euro zone's financial crisis hit India's clothing exports.

Although the US market has recently shown signs of recovery, it is from Europe.

Order

Obviously decreased.

Orders from Italy and Spain almost become zero, and total exports of clothing in India may be reduced by 15%.

India's textile exports amount to about 25 billion US dollars.

Among them, clothing exports 13 billion dollars, the remaining 12 billion dollars from yarn,

Textile

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 that clothing exports will be

decline

15%. "

Men's clothing, including bulk orders, has dropped 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.

Although China has been the dominant player in the global textile market for a long time, Bangladesh and Vietnam have been better than India in value-added products in recent months, although India's textile industry has better integration.

Lower labor costs are their advantage.

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.

The export of knitted garments from Rupp to 120 billion rupees is 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%.

Apart from the United States and Europe, India also exports fabrics to Latin America, Southeast Asia and South Asia.