India loses market share in 61 export items

India’s major export products including readymade garments, gems and jewellery and agricultural products witnessed a slow down in their export demand and consequently a loss of market share in the last five years.  
  
Cars, diamonds, maize, trousers, cosmetic items, handbag and cotton sweaters also comprise the list of 61 products whose market share was lost by India between 2011 and 2016. 

India failed to cater to the soaring demand of high end cars and handbags, while it lost its market share in gold and silver jewellery products to the rising competency of China and Cambodia among other countries, and the ready made garment market share to Bangladesh.     

India’s market share in medium-end car segment got reduced from 8.84 per cent in 2011 to 5.77 per cent in 2016, for high-end cars, it got reduced from 1.77 per cent to 1.57 per cent. Most of India’s market share in the automobile sector was lost to South Korea and Japan, the leading manufacturers of passenger vehicles. 

In the jewellery sector, the market shares of the country got reduced to 30.79 per cent in 2016 from 31.36 per cent in 2011, due to an inadequacy of skilled workers and the presence of competitors such as Veitnam and China.