Vietnam, Pakistan outdo India in US, EU textile mkts: Economic Times

NEW DELHI: Smaller countries like Vietnam, Bangladesh and Pakistan are outdoing India in textile and clothing exports to the US and EU in the post-quota (2005-2007) period, confirmed a FICCI study.

Vietnam's share in EU25's imports of textile and clothing has increased from 0.8% in 1995 to 1.6% in 2007. India has only been able to keep its rank intact in EU market at number three, while Bangladesh has impoved from sixth position in 2002 to fourth 2007. Similarly, in the US, Vietnam seems to be fast catching up with India's exports.

It may be noted that the appreciation of rupee till a few weeks ago had been hitting India's textile exports. Of late, there are signs of a turnaround. Back home, textile companies are investing heavily thanks to the technology upgradation fund scheme.

Some firms are also trying to expand their manufacturing bases to other countries through either acquisitions of greenfield plants or by taking over firms in low cost economies.

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