India ranked 2nd in global textile export: UN Comtrade
As per the data released by UN Comtrade, India has emerged as the second largest textile exporter in the world beating rivals like Italy, Germany and Bangladesh in calender year 2013.China has retained the top position.
India commands 5.2% share of global textile export with its current exports worth $ 40.2 billion, while the total global textiles exports estimated at $ 772 billion.
The dominant factor behind the surge in textiles exports from India is the growth in the apparel and clothing sector as these owe almost 43% of the exports share.
The exports have got the backing of government’s policy of diversification of market and product base. India has also enhanced its position by two ranks in the Apparel exports from 8th position in 2012 to 6th position in 2013. The country’s Apparel exports stood at $ 15.7 billion in 2013 as against $ 12.9 billion in 2012. India’s Apparel exports account for 3.7% share in the global readymade garment exports.
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Month: Current Affairs - June, 2014