Indian textile manufacturers plan to expand textile exports to Philippines
Indian textile manufacturers aim to expand their market share in the Philippines.
Sixteen Indian manufacturers will exhibit a wide range of fabrics and yarns at the two-day Philippine Textile Exhibition 2012 in Manila (May 23-24).
Srijib Roy, co-director of the Synthetic and Rayon Textiles Export Promotion Council, said that India will promote its current trade relations with the Philippines.
Roy said that this will be the first time such an exhibition is held in India to introduce the quality of various Indian products.
He said the exhibition will also be an excellent opportunity for Philippine apparel manufacturers and textile importers to explore partnerships with Indian manufacturers.
The Philippines is a net importer of textiles. The Philippines imports textiles from China. Currently, China is the Philippines’ main trading partner and textile supplier. However, trade relations between the Philippines and China are currently wavering due to the Scarborough Shoal standoff.
Shashank Pareerk, director of Philippine Textile Industry, said that this is an opportunity for India and the Philippines to strengthen economic and trade relations, especially in the textile industry.
The average annual net textile consumption per capita in the Philippines is 60 kilograms, which means there is a huge demand for textiles in the Philippines, which in turn, may help promote the country’s garment industry.
According to Roy, India is one of the world’s leading producers of textile products, and therefore, India has the potential to become one of the countries supplying textiles to the Philippines.
In the past three years, India’s exports of textile products to the Philippines have increased significantly, from US$5 million in 2008 to US$13 million in 2010. .
Roy said that the Philippines is a growing market for Indian man-made fiber textiles. In 2010, Indian man-made fiber exports to the Philippines increased by 24% compared with 2009.
India is the world’s fourth largest producer of man-made fibers and a large-scale textile production and distribution center.
India’s man-made fibers are exported to 150 countries, of which the Middle East and the Gulf are the largest destinations, accounting for 25% of India’s total exports. This is followed by Asian countries (23%). The EU is the third largest importing country, accounting for 22% of India’s exports.
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