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| Sunday, 24 April 2005 |
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Business |  |
| News Business Features Editorial
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China
betters India in export of 33 major textile items
An FE analysis of 34 crucial textile/apparel items, where average annual exports from India to US amount to more than $20 million, shows that in 33 categories, China has outperformed India in the US market by great margins in the first quarter post-MFA. In 10 categories, India has even seen a decline in sales. However, India managed to take marginal lead over the neighbour in some traditionally slow moving items. Moreover, in those categories where India has seen high rates of growth over 50%, China has posted increases in the range of 180-1499%. These increases have been concomitant with a slide in realisations. For instance, in Cotton M/B trousers, where India has seen a 51.99% rise in exports to 3.42 million sq mtr, China has seen a 1,583% increase to 27.51 m sq mtr. However, realisations have dipped in both instances, as expected after the MFA, the former has seen a $1.73 (or 24%) dip to $5.5 per sq mtr compared to $2.88 decrease (42%) for the latter to $3.84 per sq mtr. In instances, where India has seen negative growth, the Chinese realisation has dipped even further. Like in the case of man-made fibre slacks. In this category, Chinese realisation has dipped 48% compared to 33% for India. China posted a 391.5% increase in this category against a 57.3% dip for India in the January-March period. The Indian industry is unperturbed by the Chinese aggression, which, it believes, is facilitated by huge cash subsidies in the form of currency manipulation and condoning of non-performing assets with textile companies. Domestic textile exporters anticipate US and EU importers turning averse to imports from China, as Washington and Brussels mull caps on import of fast growth products from that country. The items which are of major export interest to India include cotton baby garments, cotton coats, knit shirts, cotton skirts, towels, slacks, woollen coats, dresses and trousers. Most of these have shown satisfactory growth since January. (Courtesy Indian News Agency) |
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