India’s overall exports of textiles and clothing in 2015-16 may be similar to last year's level. The slowdown in China may be an opportunity for India. However there is a need to act fast since India is losing share to Bangladesh and Vietnam.

For instance, with a 13 per cent share, technical textiles is emerging as a sunrise sector. The technical textile industry is projected to grow at 20 per cent year-on-year and the segment’s potential is largely untapped in the country.

Exports of readymade garments are expected to reach $17 billion in 2015-16 as against $16 billion in the previous year. The domestic apparel industry is facing slackness but sentiment is likely to improve after implementation of GST.

The country's exports to South America, Eastern Europe and Middle East have increased significantly, but uncertainty still prevails in Europe, which is a major market. Several larger overseas buyers wanted a reduction in prices in the wake of a drop in cotton prices.

Exports of readymade garments from India grew faster than China for most of 2014. Also, India is emerging as one of the top sourcing and compliant destinations for buyers in the world.