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Anil Sasi

Spain, France, Germany among thrust markets

New Delhi , May 1

The European Union is beginning to overshadow the US as the biggest growth driver for Indian textile exports.

Textile exports have started to make greater inroads into the EU market, especially in the value-added segments such as garments, with Spain, the UK, Germany, France and the Netherlands emerging as the fastest growing markets during the major part of last fiscal, according to the latest Government data.

Traditionally, the US market has been the key driver for Indian export growth since global textile trade was opened up in January last year.

Clampdown on China

According to industry players, India is expected to consolidate its position in the EU as the European countries intensify their clampdown on China this year. The Apparel Federation of Spain has already initiated plans to sue the European Commission over its decision of allowing China to outstrip its 2005 textile-import quotas by permitting 21 million extra garments to enter the EU.

Interestingly, Spain is the fastest growing market for Indian textile exports in most segments. Indian textile product exports to Spain grew 57 per cent in value terms during April-October last fiscal as compared to the previous year. The UK market saw a 35 per cent increase in exports, a 34 per cent jump was seen in exports to Germany and a 20 per cent export growth to France, as against a 16 per cent increase to the US market. The increase in Indian exports to the EU is, however, on a lower base as compared to the US.

Importantly, much of the increase in exports to EU is on account of finished products, with exports of cotton garments during April-October period up 99 per cent to Spain in value terms, a 55 per cent growth to the UK, a 76 per cent growth to Denmark, as against 18 per cent growth registered to the US.

In case of man-made fibre garments, exports weres up 64 per cent to Germany, 60 per cent to the UK, 59 per cent to Spain and 49 per cent to France, as against a 19 per cent growth in man-made fibre garments exports to the US during the same period.

Exports of woollen garments clocked a whopping 117 per cent growth to Spain and a 32 per cent increase to both Italy and France, as against a decline of around 11 per cent in woollen garment export to the US during the seven-month period.

More Stories on : Textiles | Exports & Imports

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