India has surpassed Sri Lanka in underwear exports to the US, from January to July 2018, a growth of 10.77 per cent during the first seven months of the year. Sri Lanka, on the other hand, was able to ship just $149.86 million worth of underwear, a fall of 16.07 per cent.
In volume-terms, India clocked in a growth of 2.87 per cent and shipped 10.21 million dozen of underwear during the period, whereas Sri Lanka declined massively by 21.86 per cent and could just ship 6.58 million dozen underwear in the US market.
India’s unprecedented growth can be attributed to various factors. India and Sri Lanka both export high-end underwear to the US, however India’s advantage was less unit prices than Sri Lanka’s which helped the country in surpassing both in volumes and values.
India’s unit prices were $18.11 per dozen, whereas Sri Lanka’s was $22.77 and in the present era where cost-competitiveness is at all-time high, the country with ‘low cost and high quality’ combination emerges as victorious and the same happened with India.