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Apparel exporters girding up their loins to tap US markets post quota |
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2004-7-7
All that seems to be in the eyes of Indian apparel exporters is the US cotton knit shirt and trouser market. They seems to be preparing for taping the huge US market for these products, following the phase-out of quantitative restrictions from January 1 next year, according to industry sources.
Almost 70-75 percent of the US market cotton knit shirt and trouser market segment would open when the quota phase out occurs. Analysts foresee a massive gain for the low-cost manufacturers from India, China and Bangladesh, who would be able to make rapid gains in market share in the US and successfully stave off competition from rival countries such as Mexico and Guatemala after the quota phase-out.
The cotton shirts segment is among the fastest expanding in the US apparel market. "Indian exporters have generally kept off these fast expending segments due to stiff competition from countries such as Mexico. With the phasing out of the quotas, we have a realistic chance of gaining market share in the US for these products," a leading exporter said.
But, low-cost garment exporters from China and Bangladesh would pose a challenge to the India exporters for gaining US market share.
Analysts also predict that there is the risk of high tariffs, as well as non-tariff measures such as environmental norms and labour standards being used against Indian apparel exporters once the quotas are phased out completely.
As for the US cotton trouser market, the Indian exporters been far off the mark and have generally not been exporting in significant quantities to claim substantial market share.
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