INDIAN APPAREL EXPORTS LOSING COMPETITIVE EDGE
July 1st, 2010
BY RAGHAVENDRA VERMA
INDIAN garment exporters are losing to competition from China, Indonesia, Vietnam and Bangladesh, said a recent report released by the Federation of Indian Chambers of Commerce and Industry (FICCI). Shipments to the European Union (EU) and the US account for nearly two thirds of the country's textile and apparel exports, but registered a decline by value of 11% in 2009.
Between 2004 and 2009, India's textiles and apparel exports to the US grew by only 4.2% per annum, while China, Vietnam, Indonesia and Bangladesh saw growth of 15.3%, 14.5%, ...
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