India becomes the world’s second largest textile and apparel exporter

According to recent data released by the United Nations Commodity Trade Statistics Database (UNComtrade), India has defeated its competitors such as Italy, Germany and Bangladesh to become the world’s second largest textile exporter, while mainland China still maintains its leading position.
Virender Uppal, chairman of India’s Apparel Export Promotion Council (AEPC), said: “Despite the slow economic recovery in Europe and the United States, the global economic downturn and continued inflation, we still try our best to reach this position. It is not easy. The government’s diversification policy and product base provided us with instructions, we ventured into new markets and paid huge dividends. In turn, we also used our raw material advantages and sustainable practical experience to attract many global international brand buyers.”
In 2013, India’s textile export share in global textile exports increased by 17.5%. Currently, India’s textile exports amount to US$4.02 billion. The global textile export growth rate is only 4.7%, but India beats mainland China and Bangladesh, with its textile export growth rate as high as 23%, and the export growth rate of mainland China and Bangladesh is 11.4% and 15.4% respectively. The growth is staggering.
In addition, in the 2014-15 fiscal year budget proposed by the Indian government, the budget for the Technology Upgradation Fund Scheme for the textile industry was increased to 23 billion rupees, which will continue to promote the expenditure of related funds; in order to encourage the export of ready-made garments, for the export of ready-made garments The import subsidy for required decorative accessories will be increased to 5% of the export value of ready-made garments. Another 6 textile and textile machinery industry clusters will be developed.