India’s T-shirt exports have fallen by around 7.60 per cent in a period of 6 years (2017-2022), as per an analysis done by Apparel Resources.
The country exported US $ 2.72 billion worth of T-shirts in 2017, while the exports shrunk to US $ 2.51 billion in 2022, noting 7.58 per cent decline in 6-year period.
Markedly, other Asian destinations such as Bangladesh and Vietnam have grown in their T-shirt exports in the mentioned period significantly, outclassing India in the segment.
Bangladesh’s T-shirt exports valued at US $ 6.65 billion in 2017 which grew massively to US $ 9.86 billion in 2022, noting a substantial increase of 48.20 per cent in the 6-year period.
On the other hand, Vietnam has surpassed India by a fair margin as its T-shirt exports to the world valued nearly US $ 2.80 billion in 2022 – a 34.61 per cent increase from 2017 when the values of ‘Made in Vietnam’ T-shirts in the export market were US $ 2.08 billion.
India bears the brunt of comparatively high cost of T-shirt manufacturing as average per T-shirt export price in 2022 was US $ 2.69, which was around US $ 2.60 for T-shirts exported by Bangladesh.
The prices have fallen as compared to what Indian T-shirt exporters were getting in 2017 (US $ 2.75) yet the export didn’t flourish.
On the other hand, Vietnam has created a niche for itself as it’s majorly catering to high-end T-shirts for global sportswear brands including Nike, adidas among others. The average price point of which is around US $ 5.50.
“India’s cost of manufacturing in T-shirt is bit higher than what Bangladesh offers to the brands. It’s all a game of few cents! While, Vietnam has required raw material, expertise and infrastructure to produce premium T-shirts for global fashion brands which is what India is lacking!” commented an industry expert while talking to Team Apparel Resources.