INDIA: India's Textile Exports Stitched-Up by Weak Dollar
India's textile and clothing manufacturers - a vital component of the country's economy - have launched an aggressive "Made in India" marketing push in the Middle East as they battle the impact of the weak US dollar and appreciating rupee on exports. The textile sector has a strategic role in India's economy with…
Egytex News Desk
Egytex
Garments' exports from India are expected to reach US$14.5 billion by 2010. As well as the appreciation of the rupee against the dollar, India's exports are being hit by increasing competition from China. The effects of a weakening dollar are having less impact however, on neighboring Pakistan, Bangladesh and Sri Lanka, which are emerging as strong competitors to India in the international textile and garment market.
Garments account for 80% of overall exports by Bangladesh - US$9.3 billion out of a total US$12.18 billion in export earnings in the financial year to June 2007, with forecasts that it will cross the US$11 billion mark this year. The Bangladesh Garment Manufacturers and Exporters Association is targeting doubling apparel exports to US$18 billion by 2010.
Source: MENAFN Press
From the Egytex news archive, first published on 14 May 2008. Figures and names are as reported at the time.
