Following Bangladesh, clothing export from Vietnam is expected to catch up with India in the world trade market now. Apparel Export Promotion Council (AEPC) estimates that Indian clothing export will reach 9.2 billion U.S. dollars in this year, compared with 2008 exports of 8.78 billion U.S. dollars, while Vietnam exported 8.4 billion U.S. dollars last year, and will grow in 2009 to 10.08 billion U.S. dollars.
Bangladesh has overtaken India in the world textile trade to sit tight in the fifth position, and the export is expected to reach 12 billion U.S. dollars.
Some of the major markets, such as the United States and the European Union, are currently bogged down in economic crisis. But these countries provide more preferential conditions for Bangladesh, Vietnam and China than India because of lower prices.
In January to October 2008, Vietnam has exported 1.04 billion euros (1.3 billion U.S. dollars) garments to the EU, compared with 3.38 billion euros of India's exports. However, the 10.25% export growth in Vietnam, while India exports only a small increase over the same period.
The first 9 months of 2008, the Indian apparel exports to the United States reduce 1.25%, while the Vietnamese garment exports to the United States grew 20.79%.
