Study on India's Textile Sector' undertaken by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
Phasing out of textiles and clothing quota has resulted in 700 percent increase in China's market share in global textiles exports, whereas India lost 46 percent market in global textile and clothing trade, according to `Post ATC: Competitiveness & Protectionism:
It reveals that China's market share in the world textile market which was around 9 percent in 2001 went up to 72.3 percent in 2005, as against India's share of textile exports in the overseas market which was at 2.8 percent in 2001 declined to 1.6 percent in 2005.
Releasing the study, ASSOCHAM President, Anil K. Agarwal said that major reason for massive rise for Chinese textile exports to world market is because not only China has been offering competitive edge over its other rivals, its liberal offer for opening up its retail sector to MNCs contributed largely to the sale of its apparels outside China also. In case of India, it lost its exports edge because India failed to create a supply value chain for its textile products to economies of scale by continuing to shut up MNCs retail entry into India.
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The Associated Chambers of Commerce and Industry of India (ASSOCHAM), India's premier apex chamber covers a membership of over 100,000 companies and professionals across the country. Six chambers, representing all regions of India, established it in 1920.
The Associated Chamber of Commerce & Industry of India
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