Indian textile exporters stand a fair chance after US curbs on textile import from China

According to a report by rating agency ICRA the restrictions imposed by US on some kind of textiles imported from China’s autonomous region Xinjiang are likely to reflect well on Indian textile export market.Although the moratorium is limited to some specific categories of textiles such as cotton and readymade apparel but yet domestic exporters have a fair shot.

In the long term these trade restrictions will impact the dynamics of global textile export significantly, said the report. As per the analysis, says Jayanta Roy, Senior VP and Group Head, Icra Ratings, “with China being the leading apparel exporter, accounting for more than 35 per cent of the global trade and more than three-fourths of China’s cotton originating from the Xinjiang region, any extension of the ban to a wider base in China could trigger a material shift in global apparel trade in coming years.”

Major apparel exporters from India have either already started receiving increased orders or are in negotiations with potential international buyers, which are looking for alternatives and shifting their sourcing base from China to India.

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