India Textile Industry Is Facing Fierce Competition In The US Market.
A study by the Federation of India chamber of Commerce and industry (FICCI) shows that India
Spin
Industry in
U.S.A
In the face of fierce competition in the market, exporters from smaller countries, such as Bangladesh, are entering this lucrative market at a faster pace.
The study says
China
Besides, Indonesia, Vietnam and Bangladesh performed better in the US market in 2009 than in India.
In 2009, Bangladesh, Indonesia and Vietnam increased their share in the US textile and clothing import market over the same period in India.
According to the research report, the market share of India increased by 0.17% in 2009, but the market share of Bangladesh, Indonesia, Vietnam and China increased by 0.5%, 0.4%, 0.67% and 4.3% respectively.
China accounts for about 37% of the US textile and clothing imports, while India's share is less than 6%.
Vietnam's share of the US market has surpassed that of India.
Similarly, in the EU market, India's textile exports have fallen more than others, such as China, Turkey and Pakistan.
India textile exports to the EU decreased by 15.7%.
The United States and the European Union account for 60% of India's textile exports.
India's textile exports amounted to US $20 billion in 2009-10 years.
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