Indian denim players eye 15% export growth

India’s domestic denim market is said to be growing by 10

per cent, and now cut in denim production by China and the US has propelled export order books by 15-20 per cent for Indian players. Though there has been a strong competition from Pakistan and Bangladesh, Indian players are witnessing a 15 per cent surge in foreign orders.

Many denim players like Aarvee Denims are expecting a further rise in exports. Industry experts estimate that China and US have cut down denim capacity by roughly 500 million metres in last one year. Add to that, Indian denim industry has seen massive expansion in recent times.

For Nandan Exim, orders have risen from the US as well as Middle East regions in last one year. Moreover, Chinese denim makers have also been growing uncompetitive day-by-day, thanks to Yuan appreciation and high input costs. And China has to buy cotton from outside unlike India, wherein Chinese denim makers are becoming uncompetitive and hence orders are shifting in favour of India, Bangladesh and Pakistan.