The US textile and apparel exports to India are witnessingthe fastest growth among other importing countries. India has been at the top of the list for American apparel and textile exports during the first eight months of this year. This comes as a surprise especially when the US industry is reeling under the impact of continuing slowdown and with the US textile and apparel industry severely affected by its lack of competitiveness.
According to recent data from the US Department of Commerce, during the first eight months of 2011, textile and apparel exports to India went up 30 per cent, though the total value of the exported articles is relatively small at $164 million (Rs 8,482 million). The products imported from the US into India include: apparels, hosiery products as well as speciality and industrial fabrics and yarn, which is said to be for, re-export from India back to the US.
Of the total imports from the US, yarns made up the biggest chunk at $51 million (Rs 2,637 million). The Netherlands tops the list of exports markets for American apparel and textile products, followed by Brazil, with India coming third. Interestingly, Indian textile and apparel exports to the US are losing ground with Vietnam, Indonesia and Bangladesh taking advantage of weakening Chinese hold over global textile markets.