CHINA emerged as the leading source of India's textiles imports in last five years as its textiles exports to India rose by 597.26 percent from US$ 78.71 million in 2000-01 to US $ 548.81 million in 2004-05, according to a Study conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on Post ATC Competitiveness & Protectionism.
It further highlights that out of India's total global textiles imports which stood at US $597.74 million in 2000-01 Chinese share was US$ 78.71 million.
The same however, shot up to US$ 548.81 million in 2004-05 against India's total global textiles imports of US$ 1502.50 million. This works out to be an increase of 597.26 percent in value terms.
In percentage terms, however, India's textile imports from China in the year 2000-01 was 13.17 percent against its total global textile imports which almost trippled to 36.53 percent in 2004-05 against India's total global textile imports, adds the Study.
ASSOCHAM President, Mr. Anil K. Agarwal while releasing the study here today stated that Chinese textiles exports to India rose because their prices internationally witnessed a downtrend in the period, which ushered cut throat competition among all leading economies of textile products and China happened to survive it so well because of its higher production of textile products with lower prices.
It also tells that in the first nine months of the quota-free regime, India's textile exports dipped by 10.1 percent to US $4.7 billion, while exports of readymade garments fell by 1.8 percent to US $5 billion.
Exports of textiles and readymade garments to the EU, accounting for 35.3 percent of India's textile exports, went up by a meager 3.7 percent to US $3.4 billion during January-September 2005. During January-June 2005, India's textiles and apparel exports to the USA increased by about 24.2 percent.
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