India could have shown a much better performance during 2000-02 had Washington agreed to allocate substantially higher export quotas under the growth-on growth provision of the World Trade Organisation (WTO) Agreement on Textiles & Clothing (ATC). These quotas were to be allotted retrospectively from January 1, 2000.
The data show that Indias total textile exports have risen from $8,526.9 million during 1995-96 to $12,037.6 million during 2000-01. Those to the US have increased from $1,933.6 million to $3,139.6 million during the same period. The major export items include readymade garments, cotton textiles, man-made textiles, wool and woollen textiles, handicrafts and jute.
Indias total exports of merchandise, including textiles, to the US have shown a record growth of over 16 per cent during January-June over the same period last year. Exports were valued at $5,540.02 milion against $ 4,747.23 million during the respective periods.
This strong growth, officials say, confirms that Indias exports to the US gave been buoyant during 2002, despite continued stagnation and decline in global exports to the US and the general economic slowdownn.
While total imports by the US during January-June have hown a declime of 5.70 per cent, those from India have gone up by 16.70 per cent. Only four other countries have increased their exports to the US during this period. They are China (15.39 per cent), Malaysia (4.15 per cent), Sweden (2.13 per cent) and Ireland (21 per cent).
More importantly, nine out of the top 10 items such as pharmaceuticals, gems and jewellery, iron and steel, marine products, carpets etc have shown a healthy growth during this period.
India has been the 19th largest exporter to the US so far this year, with a 1.02 per cent share of the American market compared to 0.82 per cent last year.