INDIA BECOMES SECOND LARGEST TEXTILE EXPORTER: UN COMTRADE
India has now become the second largest textile exporter, beating competitors like Italy, Germany and Bangladesh in calendar year 2013, with China retaining the top position, according to data released by UN Comtrade. Currently, India exports textiles worth $40.2 billion (Rs. 2.3 lakh crore), while the total global textiles exports stand at $772 billion (nearly Rs.45 lakh crore), giving India a market share of 5.2 per cent.
The rise in textiles exports from India is largely attributed to the growth in the apparel and clothing sector as this accounts for almost 43 per cent of the share. Apparel exports ranking has also improved to 6 position in 2013 from 8 position in 2012. India’s Apparel Exports, was to the tune of $15.7 billion in 2013, as against $12.9 billion in 2012.
Among the top five global clothing suppliers except for the Vietnam; India’s apparel exports registered the highest growth of 21.8% in 2013. India’s apparel exports accounts for 3.7% of global readymade garment exports.
India is the one of the world’s largest producers of textiles and garments. Abundant availability of raw materials such as cotton, wool, silk and jute as well as skilled workforce have made the country a sourcing hub. It is the world’s second largest producer of textiles and garments. The Government of India has promoted a number of export promotion policies for the textiles sector. It has also allowed 100 per cent FDI in the Indian textiles sector under automatic route.
The contribution of the textile industry in terms of percentage to industrial production and export earnings is constant at 12% during the last three years and current year. Textile Industry generated direct employment to over 35 million people and is the second largest employment generator after agriculture.About 27% of the foreign exchange earnings are on account of export of textiles and clothing alone. India’s textile industry is also significant in a global context, ranking second to China in the production of both cotton yarn and fabric and fifth in the production of synthetic fibers and yarns.