sauntheninja
Senior Member
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- Dec 16, 2020
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We have this obsession with high end stuff that while is good optics and increases our sophistication in the economy.It does not generate ample employment. We want to be a service powerhouse when that can't generate employment for 800 million people. We want to be a semi conductor powerhouse but we don't want to be a leader in low end manufacturing and textiles no these things are below us let countries like Vietnam and Bangladesh get these and become rich have you seen our it exports sarrBangladesh earns record US $ 47.38 billion from apparel export in 2023 - India Shipping News
DHAKA : Bangladesh’s apparel exports achieved a remarkable milestone in the previous year, reaching an unprecedented high of nearly US $ 47 billion,indiashippingnews.com
Apparel exports to EU jump 8.5% in Feb
Bangladesh's apparel exports to the European Union market surged by 8.5% month-on-month to around €1.3 billion in February this year – the highest in the last four months. However, shipments to the 27-nation economic bloc remained 18.6% lower compared to the corresponding month a year ago...www.tbsnews.net
At $14.5 billion, India’s garment exports lag; trail behind China, EU, Bangladesh and Vietnam: GTRI report
India’s textiles and garments exports have declined over the last five years by 7.6 per cent to $34.24 billion in calendar year 2023 from $37.16 billion in 2018,www.thehindubusinessline.com
This has been the single biggest failure of Modi government. They have completely neglected this sector thanks to incompetent scum ministers like Piyush Goyal. Our garment exports have stagnated around $10-12 billion in the last decade while they have crossed 50 billion. Even $1 billion of additional exports will easily sustain 1 lakh direct employment. To make things worse, most indian middle class are exclusively or increasingly shopping at Zara, Uniqlo, Reliance etc, who source substantial amount of their clothes from bangladesh and import it here, which is why our textile imports are increasing.
Polyester yarn prices down in India amid weak demand, liquidity crunch
PC and polyester yarn prices in Indian markets have dropped due to sluggish payments and weak fabric purchases by the garment industry. Viscose yarn remains stable but faces slow demand. The Suratwww.fibre2fashion.com
And looking at yarn demand prices, looks like things will get even worse.