Bangladesh edges out India in clothing exports
Tuesday, 6 July 2010
FE Report
Bangladeshi textiles and apparel makers are stealing the march on their Indian counterparts as shipment from Bangladesh surged past in both American and European Union markets, India's top trade body said Monday.
In a study, the Federation of Indian Chambers of Commerce and Industries (FICCI) said clothing exports originating from smaller regional economies like Bangladesh and Vietnam to the US market grew faster than India's in 2009.
Also, the study said, Bangladesh's apparel exporters were doing better than Indians in the EU markets, too.
Bangladesh's apparel shipment grew by 3.6 per cent in the 500 million-strong regional market in 2009, while all its major rivals such as China, Turkey and India had negative growth, data has showed.
At 57 per cent, the EU is Bangladesh's single largest export destination, followed by the US with 35 per cent.
The report noted that Indian textiles and apparel exports to US and EU had slowed down at almost the same rate in 2009, but competition seemed to be harder for Indian textile exporters in US market, compared to the EU market.
Bangladesh along with China, Indonesia and Vietnam managed to perform better than India in the US market in 2009, defying the global recession.
India's textile minister Dayanidhi Maran said the government would step up upgrading technology to maintain the country's competitiuve edge in the global textiles and apparel markets.
"Modernising technology and production processes is the key to remain competitive in the globalised textile industry and trade environment," said Mr. Maran, after launching an integrated textile park in the Indian city of Bangalore.
By contrast, the FICCI said, imports of textiles from Bangladesh and other countries like Indonesia and Vietnam had witnessed smaller decline than India in the US market.
India's textiles and apparel exports to the US grew by 4.2 per cent between 2004 and 2009, while Bangladesh witnessed a growth of 11.5 per cent.
China, Vietnam and Indonesia registered a growth of 15.3 per cent, 14.5 per cent and 8.9 per cent respectively.
In the EU market too, India's textile export witnessed higher fall than that from countries like China, Turkey and Pakistan. India's textiles exports to EU fell by 15.7 per cent.
But Bangladesh's shipment to the EU market rose to 8.9 per cent, from 7.5 per cent.
Bangladeshi textiles and apparel makers are stealing the march on their Indian counterparts as shipment from Bangladesh surged past in both American and European Union markets, India's top trade body said Monday.
In a study, the Federation of Indian Chambers of Commerce and Industries (FICCI) said clothing exports originating from smaller regional economies like Bangladesh and Vietnam to the US market grew faster than India's in 2009.
Also, the study said, Bangladesh's apparel exporters were doing better than Indians in the EU markets, too.
Bangladesh's apparel shipment grew by 3.6 per cent in the 500 million-strong regional market in 2009, while all its major rivals such as China, Turkey and India had negative growth, data has showed.
At 57 per cent, the EU is Bangladesh's single largest export destination, followed by the US with 35 per cent.
The report noted that Indian textiles and apparel exports to US and EU had slowed down at almost the same rate in 2009, but competition seemed to be harder for Indian textile exporters in US market, compared to the EU market.
Bangladesh along with China, Indonesia and Vietnam managed to perform better than India in the US market in 2009, defying the global recession.
India's textile minister Dayanidhi Maran said the government would step up upgrading technology to maintain the country's competitiuve edge in the global textiles and apparel markets.
"Modernising technology and production processes is the key to remain competitive in the globalised textile industry and trade environment," said Mr. Maran, after launching an integrated textile park in the Indian city of Bangalore.
By contrast, the FICCI said, imports of textiles from Bangladesh and other countries like Indonesia and Vietnam had witnessed smaller decline than India in the US market.
India's textiles and apparel exports to the US grew by 4.2 per cent between 2004 and 2009, while Bangladesh witnessed a growth of 11.5 per cent.
China, Vietnam and Indonesia registered a growth of 15.3 per cent, 14.5 per cent and 8.9 per cent respectively.
In the EU market too, India's textile export witnessed higher fall than that from countries like China, Turkey and Pakistan. India's textiles exports to EU fell by 15.7 per cent.
But Bangladesh's shipment to the EU market rose to 8.9 per cent, from 7.5 per cent.