India beats China and Bangladesh to become biggest player in…, shocks Pakistan due to…
The global textile industry is witnessing a major shift as buyers move away from China and Bangladesh. Now India is emerging as a major center for this business. India's garment exports have shown major growth.
According to data from the industry organization CITI, apparel exports increased by 11.3% in May. Western buyers also now consider India as a more reliable partner as compared to Bangladesh and China. This has boosted India's exports.
In August last year, political instability started in Bangladesh after a government change under Sheikh Hasina. This situation led to India's export growth. According to The Economic Times , apparel exports surged by 17.3% in September and 24.35% in October. Several buyers from developed nations are asking Indian suppliers to boost their capacity and get necessary certifications. After tariffs were imposed by the Trump administration on China also helped India to gain a duty advantage over Chinese exports.
This surge in exports is good news for the textile industry, which was struggling for two years after the COVID-19 pandemic. The political tussle in Bangladesh led to a shift in global supply chains. Industry leaders believe that buyers prioritize stability and continuity in the supply chain, avoiding any form of uncertainty.
Although Bangladeshi manufacturers are in high capacity and can fulfill large orders in short periods, Indian manufacturers are optimistic about maintaining their export growth, driven by duty advantages over China.
India holds a $10 billion share in the U.S. apparel market as compared to China's $30 billion. While apparel exports are rising, the import of raw cotton is also increasing, as domestic cotton prices are higher than international rates.
The Cotton Association of India estimates that cotton imports will more than double in 2024-25, reaching 3.3 million bales (170 kilograms each) compared to 1.52 million bales last year.
Paksitan's export were far less than Indian, according to media reports, In fiscal year 2024-25, Pakistan's exports were $24 billion.
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