Benefits of India! As the West moves away from China and Bangladesh, India’s apparel exports look at great development; $ 120 billion US market biggest opportunity
India is rapidly emerging as an alternative destination for buyers in the West for buyers, as they move away from Bangladesh and China. India’s apparel exports maintained a strong growth, with an increase of 11.3% year-on-year in May, which is in accordance with the Union of the Indian Textile Industry (CITI). This export development provides relief to India’s apparel sector, which experienced two consecutive years of difficulties after epidemic. In the US market, India share $ 10 billion, while China holds a share of $ 30 billion.Buyers from developed countries are encouraged Indian manufacturers to increase production capacity and obtain necessary certificates. This push comes when India benefits from duty benefits on China, resulting in mutual tariffs applicable during Donald Trump administration.Benefit IndiaAccording to an ET report, the region saw significant growth in the region after political instability after Sheikh Hasina’s government was removed in Bangladesh last August. Export data increased by 17.3% in September, followed by 24.35% in October.Also read ‘Dramatic decline … look out …’: China’s exports rapidly dives between Trump Business War; Why India should be on guardSanjay’s Jain, National Textile Committee, National Textile Committee, Indian Chamber of Commerce said, “India’s apparel exports declined after Kovid, as consumers bought less new clothes due to additional purchases made during the Kovid period. There was a period of stagnation or decline for about two years later.”The apparel sector showed signs of reforms after political changes and unrest in Bangladesh. Industry experts stated that due to the continuous nature of apparel production, buyers want stability in their supply chains.Bangladesh’s apparel field has adequate manufacturing capabilities, which they are able to fulfill large orders quickly, which differ from Indian manufacturers.Also read Big victory! Chinese companies are now exporting ‘Made in India’ smartphones and electronics to US, West Asia; Notable changes for Chinese brandsExport growth for Indian manufacturers is expected to continue due to duty profit compared to China. Jain said, “There is a large window of opportunity for Indian apparel exporters. $ 120 billion is the biggest opportunity. We all need to get raw materials at competitive rates,” Jain said.As long as apparel exports continue to increase, raw cotton imports are increasing because domestic prices are higher than international rates. Estimated cotton imports for India in 2024–25 are set over double than the previous year.The Cotton Association of India reports that the cotton imports of each country in 2024-25 are expected to reach 3.3 million lumps of 170 kg, increased by 1.52 million knots in the previous year.
