A new vistas in the form of Japan, is unfolding for domestic textile makers who so far concentrated only for the American and European textile sector pie!
For Indian textiles and garments exporters, the US and the EU, both seems attractive preposition as exports to these regions went up 27 percent and 20 percent, respectively.
All this is now set to change a bit as 'Look East, to Japan,' policy to be precise, seems prompting the leading lights of the industry to that destination market.
Indian textile majors like Raymond and Arvind Mills Limited are heading to Japan in a bid to capture new territory and markets.
In fact, data provided by Cotton Textiles Export Promotion Council (Texprocil), confirms increasing markets share trend for India from Japan.
At 15 percent growth rate compared to 10 percent in the previous year, India's textile and clothing exports to Japan grew by about $110 million in 2004.
Further, just 0.5 percent of the total imports share into Japan originates from India.
China has been the main stake holder in the Japanese market cornering almost 80 percent of the market.
But the past couple of years has witnessed near stagnant growth at 13 percent for this country.
marketing@alchempro.com
