China'S Textile And Garment Industry Loses Competitiveness, India Benefits
With China's textile and clothing industry experiencing high inflation and labor costs rising, India textile And overseas enquiries received by the clothing export department increased by 10-15%.
As India's textile and clothing enquiries increase, India's textile and clothing exports may occupy China.
Export
The market share of China now accounts for about 27% of global exports.
Nair DK Nair, Secretary General of the India Textile Industry Federation (CITI), said it is not just inflation.
China is also facing other problems, including inflation.
China's competitiveness in fabrics is declining, so the export of Chinese fabrics to India will be reduced, and India's clothing exports will increase.
The largest in India
Garment export
Mr SN Rangaiah, general manager of Gokaldas export company, said that this is absolutely the gospel of India industry. We received a large number of encouraging orders from overseas customers, because for them, it is no longer economical to continue to get goods from China, so a large number of orders have been pferred to India and other countries.
India, Vietnam, Bangladesh and Sri Lanka will all be the beneficiaries of China's diminished competitiveness.
But some experts have warned that before opening champagne bottles in India, we should bear in mind that overseas buyers will not stop doing business with China.
This will be a slow process.
Overseas buyers will test the service quality of India suppliers, etc., but for India's textile and garment industry, this is an obvious opportunity to seize market share.
- Related reading
China'S Textile Exports To China Increased By 39%&Nbsp In 2010, And Imports Increased By 15%.
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