Textiles, basic metals & alloys power India's strong economic performance
21 Apr '06
2 min read
As discussed in Part 1 of this Asian Development Outlook, India has benefited from the ending of the Agreement on Textiles and Clothing, with exports of clothing and textile intermediates to the United States rising by 34% and 22%, respectively, in value terms in calendar 2005.
India's exports of clothing and textiles to the European Union increased by 16% in value terms in this period, but by under 5% in volume terms, reflecting a significant improvement in unit values. These increases, however, partly reflect the shift in trading patterns from formally nonquota to quota countries.
Likewise, prospects since the Agreement on Textiles and Clothing for the domestic textile industry appear healthy, provided that it continues to modernize.
"This suggests that, with appropriate scale, investment, and technology, it can achieve rapid industrial growth.”
marketing@alchempro.com
