NEW DELHI, Jan. 6 (UPI) -- Textile imports from China to India increased by 600 percent over the last five years.
India's overall textile exports have fallen by 10.1 percent in the first nine months under the quota-free regime, while export readymade garments dipped by 1.8 percent, the Hindu newspaper reported.
"China has become the leading source of the country's textile imports over the last five years," said an industrial study assessment.
The Indian president of Associated Chambers of Commerce (ASSOCHAM) Anil K. Aggrawal, who released the report, said Chinese textile imports to India rose because Beijing prices witnessed a downtrend in the period which ushered cut-throat competition.
He said China survived because of its high production of textiles and low prices.
The study found that volumes of textile imports from China had gone up to $548.81 million in 2004-2005 from $78.71 million in 2000-2001.
"Out of India's total textile imports at $597.74 million in 2000-2001, China's share was $78.71 million. This further rose by 597.26 percent to $548.81 million in 2004-05 as India's total textile imports touched $1502.50 million, "the study said.
ASSOCHAM said in percentage terms India's textile imports from China in 2000-2001 were 13.17 percent of total global textile imports and this almost tripled to 36.53 percent in 2004-2005.
The study said exports of textile and readymade garments to the European Union, which accounts for 35.3 percent of the total export, rose by a meager 3.7 percent to $3.4 billion during Jan.-Sept. 2005.
It said India's textile exports to the US increased by 24.2 percent.
