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The EU Financial Crisis may Lead to Indian Clothing Exports fell 15%
Date:2011/12/28 PV:4836

        The eurozone financial crisis hit India clothing exports. Although the U.S. market shows signs of recent recovery, but from the European order to decline significantly. From Italy and Spain order almost become zero, India clothing exports may reduce 15%.

         India's textile exports about $25 billion. Among them, the clothing export $13 billion, and the remaining $12 billion by yarn, fabric and a finished product. The current fiscal year, the fabric export expected reduced by 5%.
        Clothing export promotion agency (AEPC) President Premal  Udani said: "European demand downturn and Europe India the biggest clothing buyers. Italy and Spain to buy less. The U.S. market is slightly better than Europe, the United States needs some recovery. We expected to drop 15%, clothing export."
        Male kind of dress, generally includes orders, has dropped significantly. Women clothing is not a very big number of orders. The personage inside course of study says, now some exporters are expanding their domestic market, because western a slowdown in demand.
        Although for a long time, China has been leader of the global textile market, but in recent months, Bangladesh and Vietnam in the value added products has been better than India, although the Indian textile industry to better integrate after contact. Low labor cost is their advantage. Despite China's management domestic inflation rate, but China is facing currency appreciation and production cost the rising risk.
        Bangladesh is a low cost market, the United States and Europe is the order shifts to Bangladesh. Donald's export the knitted dress up to 120 billion rupees, export is expected to decline 15% this year. Donald's exporters association President Sakthivel said, the anticipated market will improve in the autumn.
        India's textile industrial league secretary general Neil added: "cotton market are not affected by the American and British effects of the slowing economy, because spinning industry relies on Bangladesh, China, Hong Kong and South Korea's exports. But, the fabric export has fallen by about 5%. In addition to the United States and Europe, India also export outside fabrics to Latin America, southeast Asia and South Asia market."

 

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