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India, China look to other regional agreements

Since the US is unlikely to sign the Trans-Pacific Partnership (TPP) free trade agreement, China and India are seeking to seal other regional trade agreements. Neither China nor India is a part of TPP. However, India wishes to be able to make a deal with China and countries of Southeast Asia. India also wants to attract professionals from countries with great expertise in textiles, such as France, Italy, Germany and others, and encourage them to exploit the eco-system in place in India.

An increasing number of Chinese businesses have invested in foreign countries such as India, Sri Lanka, Bangladesh, Pakistan, Kenya and Ethiopia, building textile factories there. These investments will enable the Chinese textile supply chain to improve in terms of speed and reactivity.

Last year was a challenging one for China’s textile industry, hampered by rising manpower costs, stricter environmental regulations, exchange rate pressure and the slowdown of domestic demand. Yet, despite the slump in exports, China still held on to its global market share.

In the first 11 months of 2016, China and India were the first and the fourth apparel supplier to the EU. The two countries were also the first and the third textile supplier to the EU.