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Current Scenario
The Indian textile industry contributes about 17% to the countrys export earnings. The industry provides direct employment to over 35 million people India has the potential to increase its textile and apparel share in the world trade from the current level of 4.5% to 8% and reach US$ 80 billion by 2020. Exports of textile grew to USD 26.8 billion in FY 2010 from USD 17.6 billion in FY 2006 textile trade is dominated by exports with a CAGR of 6.3% during the same period.
1600 1400 1200 1000 800 600 400 200 0 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 Knitted Woven
Mens overcoats
1200
1000
800
600
Knitted Woven
Womens Overcoats
400
200
40000 35000 30000 25000 20000 15000 10000 5000 0 2006-2007 2007-2008 2008-2009 2009-2010 160000 140000 120000 100000 80000 60000 40000 20000 0 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 Knitted Woven 2010-2011 Knitted Woven
50000 45000 40000 35000 30000 25000 20000 15000 10000 Knitted Woven
Mens Shirts
5000
0 2006-2007 2007-2008 2008-2009 2009-2010 100000 90000 80000 2010-2011
70000
60000
50000 40000 30000 20000 10000 0 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011
Knitted
Woven
40000
35000
30000 25000 20000 15000 10000 5000 0 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011
120000
100000
80000
20000
50000 45000 40000 35000 30000 25000 20000 15000 10000 5000 0 Woven Knitted
2006-2007
2007-2008
2008-2009
2009-2010
35000 30000 25000
2010-2011
160000
140000
120000
100000
80000
60000
40000
20000
0
2006-2007 2007-2008 2008-2009 2009-2010 2010-2011
CONCLUSION
The export of apparel products from India to UK is gradually declining from the past few years. This is because of the new upcoming markets like Bangladesh, Sri Lanka,etc. And various competitors like China. Also the UK economy is declining and it is unsuccessful to recover effectively. Though the Indian government is trying to overcome this problem by bringing in new policies. Indian apparel exports to the European Union will get 20% cheaper in a phased manner with the signing of India-EU free trade agreement (FTA), now in the final stages of negotiations. According to a commerce ministry official, India has managed to convince the EU on bringing down tariffs on Indian apparels from 20 per cent to nil over the next 10 years. The move will help India to be price competitive against its competing neighbouring countries like Bangladesh and Sri Lanka which are exporting garments to EU at zero duty under the Least Developed Countries (LDCs) status. Today, EU nations prefer India only for fashionable items across all categories while the basic purchase of bulk apparels happen from China and Bangladesh. With this FTA, India will emerge as a preferred destination for even bulk purchase of daily wear apparels.
Thank You
Submitted By: Amanjot Maingi Bhamini Pohoja Samarth Pachhapur Tanvi Arora Yamini Paliwal