India has improved its ranking in global textiles and apparel exports as per recent data released by UN Comrade. In global textiles exports, India now stands at second position beating its competitors Italy, Germany and Bangladesh, with China still holding the top position.
Virender Uppal, chairman, AEPC, expressed his happiness over this impressive growth and said: “Despite having slow recovery in the USA and the EU, our biggest traditional markets, as well as prevailing global slowdown coupled with sustained cost of inflationary inputs, we made the best possible efforts to reach here.”
The government policy of diversification of market and product base has helped us and we ventured into the newer markets which paid huge dividends, he said, reports Statesman News Service.
“We also leveraged our raw material strengths and followed sustained better compliance practices which attracted the buyers and international brands across globe to source from India,” Mr Uppal added.
India’s share in global textiles has increased by 17.5 per cent in 2013 compared to the previous year. Currently India’s textiles exports are $40.2 billion. This growth is phenomenal as the global textiles growth rate is only 4.7 per cent compared to India which has registered a growth of 23 per cent beating China and Bangladesh which have registered 11.4 per cent and 15.4 per cent growth, respectively.