Growth and exports

Almost every high growth economies in post-war history in East Asia has been associated with rapid expansion in clothing and footwear exports in the

early stages. In the successful East Asian economies where GDP growth booms averaged between 7-10 per cent, growth in the exports of these two sectors was exceptional—the average annual growth of apparel exports was over 20 per cent, with some close to 50 per cent; and that of leather and footwear averaged more than 25 per cent. In its take-off phase of growth, India has underperformed relative to the East Asian competitors. The Indian underperformance, has been particularly marked in the leather sector.