High-end fabric shops in the Grand Bazaar in Jaipur, India, in 2018.
According to the Press Trust of India, Prabhu Damodaran, convener of the Federation of Indian Textile Entrepreneurs, said on Saturday that the Sino-US trade friction has created a The textile industry brings opportunities.
He said that the total global textile exports are fixed at 260 billion US dollars, and China’s exports to the United States have dropped by 3-4% in the past five months. Indian textile manufacturers must take advantage of this Opportunity to make money.
Damodaran made these remarks after the opening of the Second Indian National Textile Conference. He further said that Indian manufacturers must shift their focus towards value-added products in the apparel sector and large-scale apparel manufacturing, which will help reduce the cost of basic commodity apparel.
“An increase of US$1 billion in exports will create 150,000 new jobs in India.” Damodaran said.
According to Indian media reports, India has identified 151 products that can replace US exports to China. As the Sino-US trade friction escalates, relevant people in India believe that India is expected to benefit from expanding its exports to China by leveraging its price advantage. Indian officials said that the retaliatory tariffs being implemented by China and the United States provide an opportunity to increase India’s exports to China.
