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India: the European Debt Crisis Affect Clothing Exports
Date:2012/1/31 PV:4723
        According to Indian clothing export promotion committee introduction, the euro zone's debt crisis will give this fiscal year of India's clothing export bring huge impact. This fiscal year is expected to India clothing export to realize the target. At present the European market to India exports account for about 50% of the total amount of clothing exports.

        It is reported, India's textile department will this fiscal year (2011-2012 fiscal year) garment textile export target $14 billion, the last year for $11.58 billion. April 2011 to November, India garment exports to 8.4 billion us dollars, the commission wants to Indian clothing exports this fiscal year to complete export target of 90% to 92%, that is $12.6 billion to $13 billion.

        At the same time, clothing export promotion committee hope in the next five years will India clothing export double, from the current $14 billion to $30 billion. This requires exporters vigorously develop new market, promote the new product, and will be selling point to synthetic clothing areas.
         As the global economic crisis hit the European Union and the United States, and India traditional export market. The next stage will be the focus of development India needs to Latin America, Japan, Australia, Russia and so on have great potential market. India also will from cotton processing center of gravity to synthetic fiber, while expanding sportswear, such as the production of the swimsuit. India is expected to import a small amount will be the first used for knitting knitting dress of synthetic fiber. At present, the Indian clothing export promotion commission has launched "clothing technology innovation project" and "knitting technology project", in order to promote domestic synthetic fiber production.


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