India explores Iran market for textiles exports

Source: Business Standard, Jul 06, 2016

Mumbai: In an attempt to reduce dependence on the European Union and United States for growth, Indian garment exporters are exploring opportunities in Iran.

A delegation led by the Ministry of Commerce and accompanied by over half a dozen industry officials recently met with their counterparts there. The Indian delegation discussed a host of issues including prevailing taxes and relaxation in policy support for hassle-free export of textiles to Iran.

“Although the United States and the European Union are important markets for us, we are exploring new markets for textiles exports to reduce our dependence on these two regions,” said Rashmi Verma, Secretary, Ministry of Textiles, on the sidelines of an event in Mumbai.

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India’s garment exports may hit $20 billion in FY17

Source: Times of India, Jun 28, 2016

MUMBAI: India’s garment export is expected to rise to $20 billion during the current fiscal, helped by the new initiatives announced by the government for the sector, an industry official said on Tuesday.

The Union Cabinet last week approved a Rs 6,000 crore package for textiles and apparel sector with an aim to create one crore new jobs in three years and attract investments of $11 billion with an eye on $30 billion in exports.

“India’s garment exports, estimated at $16.80 billion now, is expected to reach $20 billion during the current fiscal. The special package announced by the government will not only help in attracting large investments but also enhance production capacity,” Clothing Manufacturers Association of India (CMAI) president Rahul Mehta told reporters here.

The inclusion of state-level taxes in the computation of duty drawback will provide a major relief to the exporting segment, Mehta said.

However, the prevailing downturn in the global economy continues to adversely impact India’s garment industry. During the first quarter ended June 2016, the industry may see a five per cent decline in exports. Total exports of apparel from India stood at around $4 billion in April-June 2015.

The domestic garment industry also faces dull market conditions and may see flat growth or a two per cent decline in consumption in the quarter ended June, 2016, Mehta said.

CMAI is organizing a mega trade show — “The National Garment Fair” — on July 13-15 in Mumbai. The event will see participation from 812 brands and nearly 40,000 retailers from across the country are expected to visit the three-day B2B fair, Mehta said.Commenting on Britain’s exit from EU, Mehta said there may not be an immediate fallout of the referendum on the business front, but there could be a period of uncertainty and confusion for some time.

He said there may not be any dramatic impact on India’s garment exports to the UK or EU. However, a lot would depend on the exact agreements and treaties to be worked out by both sides, especially on tax plication on movement of goods between the two geographies.

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Results are good and will be better ovr a period of time. Thanks to policy improvements.Mukesh Rawat

Mehta demanded aggressive follow-up for Free Trade Agreement (FTA) with EU and other countries. Post-Brexit, he felt, there could be a further delay in the signing of the FTA with EU The apparel industry also sees huge export potential in Iran, which has a $16-billion market and nearly 60 per cent of the demand is met through imports, he added.

Govt eyes Australia, Africa to boost textile exports

indexSource: Business Standard, Mar 11, 2016

Chennai: The Union textiles ministry is looking at Australia, the Commonwealth of Independent States and Africa to boost exports through bilateral agreements as free trade agreements (FTAs) with the European Union and the US are delayed.

The ministry is chasing a target of doubling textile exports in 10 years and is working on a new textiles policy to promote value-addition.Guidelines had been finalised for a revised Textile Upgradation Fund Scheme and these would be placed before the Cabinet, Textiles Secretary Rashmi Verma said on the sidelines of the India International Handwoven Fair in Chennai.

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Denim industry looks to increase share of exports

index.jpgSource: Business Standard, Feb 16, 2016

Ahmedabad: The Indian denimindustry is looking to gradually increase its share of exports from its current 35%. Experts feel that the industry will have to increase its capacity by another 300 million metres. The sector’s current share of domestic sales is 65%.

“Historically, denim has been one of the fastest growing apparel fabric segments, having grown by 500 million metres from 700 million metres in 2010 to 1.2 billion in 2015. Yet, there is a gap of another 300 million metres in India if the denim industry needs to tap its full export potential,” said P R Roy, chairman of Diagonal Consulting (India), which is organising the International Denim Conference in Ahmedabad jointly with the Confederation of Indian Textile Industry (CITI) on February 19 and 20, 2016.

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Govt plans 20 textile parks to boost industry

Source: ETRetail.com, Feb 01, 2016

aHaridwar: The Centre is in talks with Uttarakhand and some other states to set up 20 textile parks to boost the industry, Union minister Santosh Gangwar said here on Sunday. He added that the areas where these parks are set up will become industrial hubs.

“The central government has decided to set up 20 textile parks to boost textile industry in the country. It is already in talks with states, including Uttarakhand, so that land for these projects can be allotted,” he said. Read the rest of this entry »

Centre weaving textile policy to boost exports

Source: The Hindu Business Line, Jan 27, 2016

Mumbai: The Centre will soon unveil a textile policy to boost sagging exports and encourage investments in the sector. Inaugurating the 62nd National Garment Fair in Mumbai on Wednesday, Kavita Gupta, Textile Commissioner, said the draft of the new textile policy is ready and the final version would be announced soon.

“We see the slowdown in China as an opportunity and are looking at $40 billion of textiles exports this fiscal. The Textile Ministry would give full support to the industry in time of distress,” Gupta said. Textiles and clothing exports were at $41.4 billion in 2014-15 and $39.31 billion in 2013-14.

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India’s largest textile park to come up in Warangal

Source: The Economic Times, Jan 06, 2016

HYDERABAD: India’s largest textile park will come up in Telangana’s Warangal town, Chief Minister K. Chandrasekhar Rao announced on Wednesday. He said the proposed ‘cotton-to-garment’ park will be set up in an area of 2,000-3,000 acres. Read the rest of this entry »

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