At $14.5 billion, India’s garment exports lag; trail behind China, EU, Bangladesh and Vietnam: GTRI report

India’s textiles and garments exports have declined over the last five years by 7.6 per cent to $34.24 billion in calendar year 2023 from $37.16 billion in 2018, with China, the EU, Bangladesh and Vietnam dominating global garments trade, says a report by research body Global Trade and Research Initiative.

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In the same five-year period, India saw a 25.46 per cent increase in textile and garment imports to $9.18 billion in 2023 from $7.32 billion, indicating a domestic demand unmet by local production, the report titled ‘Regaining…