India emerges as the world’s second largest textile exporter

India has left behind Germany and Italy and becomes the world's second largest textile

exporter. However, to reach China's position as the largest, India has to initiate rapid action as China’s exports are nearly seven times higher than India.

As per the data released by the Apparel Export Promotion Council (AEPC), India's textile exports were estimated at 40 billion dollars (Rs 2, 36,280 crores) in 2013, compared with China's 274 billion dollars (Rs 16,18,518 crores). Textile export figures includes everything from fibre and yarn to fabric, made-ups and ready-made garments made of cotton, silk, wool and synthetic yarn.

Of the over 55 percent of global trade related to ready-made garments, India ranked sixth in 2013 with exports worth 16 billion dollars (Rs 94,512 crores), which is around 40 percent of the country's textiles exports. China’s share of garments is estimated at close to 60 percent, indicating that the government needs to provide a bigger fillip to the ready-made industry, as it has to the textile segment.

Apart from China, Italy and Germany, smaller counterparts such as Bangladesh and Vietnam have left India behind in recent years as major suppliers to retail chains in Europe and the US owing to factors like cheap labour and lower-duty access. While Indian players were expecting export orders to move to them from Bangladesh after a string of calamities in the country, the industry was able to report only 18 percent growth in the garments segment in 2013, compared to global growth of 6 percent.

However, there has been a sense of optimism over the past few months with the Indian garment industry clocking in 23 percent rise in exports of shirts, trousers, skirts and other ready-made garments during 2013. After the players began exploring to new export destinations apart from the US and EU, their efforts have paid off, which are visible in the growth numbers.