Vietnam is the only country that has registered an export growth to US more than that of India. The grim picture of China’s textile industry is evident from the fact that over two-thirds of companies have witnessed a profitability of 1% or less in the recent months, according to a survey, Mr Nair said. .According to another survey, 45% of the textile exporters in China wanted to quit their profession under the changed circumstances. Though appreciation of rupee by 15% against the dollar since October 2006 and a perceptible slowdown of the US economy were the main reasons hurting the Indian textile industry, other internal problems added to the problems. Source: Economictimes.indiatimes.com
Date:5/28/2008
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