India’s Denim Fabric Exports Poised For Growth
Denim fabric, a popular and versatile textile primarily used in the production of jeans and other casual garments, is known for its durability, strength and distinctive twill weave, giving it a diagonal pattern. While typically made from cotton yarn, variations using synthetic fibres or blends are also available.
Denim fabric finds application in a wide variety of garments, including jeans, jackets, shirts, and more. The targeted consumer base for denim jeans is the millennial population, which is more susceptible to changes. The growth in the millennial population, along with the rise in disposable income and per capita consumption of denim jeans, especially in emerging countries such as India and China, is expected to drive growth in the denim jeans market going forward.
In recent years, the global denim fabric market has experienced fluctuations in import and export figures. According to ITC statistics in 2022, worldwide denim fabric imports amounted to US$ 4,128.84 million, representing a 5.04% decrease compared to the previous year. The largest importer of denim fabric is Bangladesh, accounting for approximately 30% of the total global exports. However, in 2022, Bangladesh experienced a decline in denim fabric imports, dropping by 11.2% compared to the previous year.
China, Pakistan and India are the leading suppliers of denim fabric to Bangladesh, collectively comprising 93% of the country’s total imports. China holds the top position as the largest supplier, with exports amounting to US$ 600.06 million in 2022, although this figure decreased by 8.9% compared to the previous year. China’s exports make up 49% of Bangladesh’s total denim fabric imports.
India has been making efforts to increase its share in denim fabric exports to Bangladesh. In 2022, Bangladesh’s imports from India reached US$ 197.43 million, but witnessed a 14% drop compared to the previous year.
On the export side, global denim fabric exports totaled US$ 4,772.21 million in 2022, representing a 4.30% decline from the previous year. China is the dominant exporter in the market, accounting for 45% of total global exports. Despite a minimal drop of 0.68% in 2022, China’s denim fabric exports amounted to US$ 2,159.51 million.
Pakistan is the second-largest exporter, holding a 13% share of the total. In 2022, Pakistan’s denim fabric exports amounted to US$ 611.87 million, experiencing a decline of 5.9% compared to the previous year.
India ranks as the third-largest exporter of denim fabric, with a market share of 11%. However, in 2022, India’s exports experienced a significant decline of 15.3%, reaching US$ 502.26 million. Despite this drop, India’s denim fabric exports have shown substantial growth in the export market.
Overall, denim fabric continues to be a widely used and sought-after material in the global fashion industry. Its enduring popularity and evolving trends contribute to the dynamics of the import and export market, with countries like China, Pakistan, India and Bangladesh playing significant roles in its production, consumption and trade.
