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Part - II
The major markets for India have been the US and the EU (despite having quota restrictions). UAE, Japan and Switzerland are amongst the top non-quota export destinations.
| (US$ m) |
Target for
2003-04 |
Achievement
2003-04 (E) |
Proposed
2004-05 |
| Textiles |
12,550 |
11,648 |
13,625 |
| - Readymade Garments |
6,000 |
5,500 |
6,250 |
| - Cotton Textiles |
4,250 |
3,879 |
4,775 |
| - Man-made Textiles |
1,500 |
1,520 |
1,750 |
| - Woolen Textiles |
350 |
300 |
350 |
| - Silk |
450 |
449 |
500 |
|
Handicrafts |
2,455 |
2,390 |
2,685 |
| - Other and Carpets |
2,170 |
2,134 |
2,350 |
| - Jute |
85 |
71 |
85 |
| - Coir |
200 |
185 |
250 |
|
Total (Textiles + Handicrafts) |
15,005 |
14,038 |
16,310 |
India: Textile Exports
The textile industry is traditionally regarded as a typical labor intensive industry developed on the basis of abundant labor supply and has a tendency to expand to overseas markets once the domestic demand is satisfied, as illustrated by examples of the established textile industries of many developed countries.
The global textile industry is likely to grow from USD 309 Bn to USD 856 Bn. India has a huge opportunity to capitalize on a much larger portion of this growth, however China is poised to gain an additional 42 Bn USD of US trade within 12 months of quota removals and increase its share of US imports from 9% to 65% And therefore how should the Indian Textile Industry respond to this challenge.
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* Contributed by -
Siddharth Mohan Patnaik, B.Tech. (Electronics),
Ravulpathi Janaki, B.Tech. (Mechanical),
II Year, IIM Lucknow.
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