-Indian cotton yarn export volume is expected to exceed 10 million kilograms
Due to increasing demand in foreign markets, India’s cotton yarn exports increased by 15% compared with the previous fiscal year.
According to data compiled by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce of India, in the fiscal year 2011-2012, India’s cotton yarn exports reached 827.68 million kilograms, and in the fiscal year 2010-2011, cotton yarn exports were 720 million kilograms, a year-on-year increase of 15%.
Nair, Secretary-General of the Indian Textile Industry Federation, said: Although there are still uncertainties in the economy, the amazing growth in exports shows that the global textile industry is recovering. China is the world’s largest cotton yarn producer, but in recent years China has focused on high value-added products. Chinese importers have continued to increase their dependence on Indian cotton yarn, thus promoting the export of Indian cotton yarn.
In the future, India’s cotton yarn exports will continue to grow as orders continue to flow in. In the fiscal year 2012-2013, India’s cotton yarn exports are expected to exceed 70 million kilograms per month.
In the past five years, India’s cotton yarn exports have been rising. In fiscal year 2011, the Indian government restricted exports to no more than 720 million kilograms to meet domestic demand. However, cotton yarn exports are not restricted in fiscal year 2012. Currently, the main destinations for Indian cotton yarn exports are Bangladesh, China, Hong Kong, South Korea, Turkey, Peru and Europe.
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