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Tough Time for Indian Textiles in US, EU

Written By Views maker on June 27, 2008 | 6/27/2008

India's textile export prices have not been as competitive as those of smaller countries like Vietnam and Pakistan and faced severe competition in the E.U. and U.S.  markets during 2005 and 2007. India's average price for textile exports was higher than China's and Pakistan's, its share in U.S. global textile imports increased by a mere 1.6 percent between 1995 and 2007. Vietnam's share rose to 4.7 percent from 0.04 percent, while that of China went up to 33.5 percent from 11 percent in the same period. India was the third largest exporter of textiles and clothing in the U.S. market. However, in value terms its exports were just one-sixth of China, which was the largest supplier.In volume terms, Pakistan was the second largest exporter of textiles and clothing to U.S. in 2007, while India ranked fourth. Vietnam also seems to be fast catching up with Indian exports.Prices of Indian textiles and clothing hardened during 2005-07 in the E.U. market. Its share in E.U's global textile imports declined to 7.5 percent from 7.9 percent between 1995 and 2007.