India has clawed back into the list of top three apparel and textile exporters to the key US market during the first seven months of 2013,after being pushed out of the top five last year.
Riding on the competitive advantage of a weak rupee and improving signs of a pick-up in the US economy,Indias textile and apparel exports to the American market was pegged at $3.73 billion during the first seven months of 2013,right after China and Vietnam,according to the US Department of Commerces Office of Textiles and Apparel (OTEXA) data.
Among the top 10 textile and apparel suppliers to the US,Indias growth in export value during this period at 4 per cent was higher than the 3 per cent growth in overall imports into the US and was also third when the top 10 are stacked up in terms of growth rate,after Vietnams 13.5 per cent and Bangladeshs 9 per cent.
Of the total textile and apparel exports of $3.73 billion,apparel accounted for the bigger chunk over $2 billion as against the value of non-apparel exports (or home textiles) at $1.73 billion.
In the last five years,in both the US and the EU markets which account for over 80 per cent of the textile and clothing exports from the country Indias main growth had been coming from home textile supplies,which include intermediates such as yarn,fabric and made-ups.
Better performance in the value-added apparel segments is being seen as a big positive during this year. Data for imports into the US market during the first nine months of calendar 2012 had showed that shipments from India were down 1.45 per cent at $4.53 billion as compared to the same period of 2011,the biggest fall among the major suppliers to the US market.
India was down to the sixth position then. Bangladesh too had seen a drop,but the fall was a lower 1.25 per cent,with exports at $3.65 billion during the period,even as Vietnam was up 5.35 per cent to clock shipments of $5.74 billion. China was down marginally by 0.46 per cent during the nine months,but was still going strong at $30.53 billion. In the EU market,India was a distant fourth in terms of supplies,and clocked lower growth than Bangladesh and Pakistan,both of which have concessional duty access to the EU members.
The pick-up in performance visible in the export performance of Indian apparel and textiles is also matched by a revival of sorts visible in domestic sales,according to DK Nair,secretary general of industry body CITI (Confederation of Indian Textile Industry). The turnaround in the performance of textile and apparel exports comes after Indias lacklustre performance in much of the last half a decade.