Robust textile exports help India reduce trade deficit with China

Source: The Hindu Business Line, Apr 14, 2019

Mumbai: Robust export of cotton textiles to China has helped India reduce its trade deficit with that country. The recent government move to reimburse all State and Central levies on textile exports boosted shipments to major consuming countries.

Cotton textile exports to China increased 69 per cent between April 2018 and and February 2019 to $1.55 billion, against $920 million in the previous year period.

KV Srinivasan, Chairman, Cotton Textile Export Promotion Council, said exports can increase further if the Centre addresses the tariff disadvantage of 3.5-10 per cent that the Indian industry suffers vis-a-vis textile exporters in Vietnam, Pakistan and Indonesia. Read the rest of this entry »

Indian cotton fabric, yarn exports fall due to high duties: Study

Source: The Economic Times, Feb 10, 2019

New Delhi: India is lagging in cotton exports to major markets due to a duty disadvantage vis-a-vis Bangladesh, Vietnam and Pakistan, a Confederation of Indian Textile Industry (CITI) study found.

Indian export of cotton yarn to the likes of the European Union (EU) and China slumped 25% in the past five years, while fabric export fell 7%. Read the rest of this entry »

India’s textile and apparel exports jump by 14% in November

Source: Business Standard, Dec 19, 2018

Mumbai: After a staggering 38 per cent jump in October, India’s textile and apparel exports growth moderated to 14 per cent in November due to a sharp volatility in the rupee against the dollar.

Data compiled by the Union Ministry of Textiles showed India’s textile and apparel exports at Rs 189.65 billion for the month of November 2018 compared to Rs 167.07 billion in the corresponding month last year. For the period between April and November, however, total textile and apparel exports witnessed a growth of 7 per cent to Rs 1600.10 billion for 2018 versus Rs 1492.54 billion in the same period last year.

In dollar term, however, India’s textiles and apparel exports recorded a mere 2 per cent jump to $2.64 billion for November 2018 versus 2.57 billion for the same month last year. For the period between April and November, however, total textile and apparel exports remained flat at $23.18 billion. Read the rest of this entry »

Duty drawback rate increase to boost textile exports from India

Source: Business Standard, Dec 12, 2018

Mumbai: The government’s decision to raise the duty drawback rates will boost textile and apparel exports, experts said.

Despite several incentives offered by the government to boost textile and apparel exports, their shipment from India stagnated between $32 billion and $37 billion for over seven years.

For the financial year 2017-18, India witnessed textile and apparel exports to the tune of $36.05 billion as against the target of $45 billion. Now, the government has set yet another challenging target of $82 billion by 2021.

Read the rest of this entry »

Suresh Prabhu urges textiles industry to prepare road map for boosting exports

Source:, Nov 29, 2018

New Delhi: Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, urged the textiles industry to prepare a road map in order to tap into the export market. Addressing a Global Conclave of Confederation of IndianTextile Industry in New Delhi today, Suresh Prabhu said that Government is willingto extend all possible support to the textiles industry.

Suresh Prabhu said that the contribution from textiles and apparel can be increased by scaling up and increasing investments into the industry along with cost optimization and vertical integration.Investing in new and more efficient technologies and processes will lead to more superior products.

The Minister said that the Indian textile industry should modernize their approach as well as the technologies and gain competitive advantage over neighboring countries and diversify product range across the value chain.The Minister said that the Commerce Ministry is making all efforts to onboard all line ministries for greater synergy in order to promote exports. Read the rest of this entry »

Textile & apparel exports jump 33% in October on higher overseas demand

Source: Business Standard, Nov 17, 2018

Mumbai: Textiles and apparel exports jumped by a staggering 33 per cent in October because of higher overseas demand. Led by the US, the largest importer of India’s clothing, the boom has been triggered by recovery in the global economy. Depreciating rupee helped boost realisations of textile, apparel exporters.

According to data compiled by the Ministry of Commerce, the country’s textile and apparel exports stood at Rs 1,986 billion for October 2018 as against Rs 1,489 billion in the corresponding month last year. While overall textiles exports posted a jump of 28 per cent, shipment of apparel from the country shot up by 54 per cent in the month under consideration. Read the rest of this entry »

Textiles, clothing exports jump 11% in July on govt policies, falling rupee

download (1).jpgSource: Business Standard, Aug 25, 2018

After a staggering 17 per cent decline in the April–June quarter, India’s textiles and clothing exports revived to witness a jump of 11 per cent in July due to favourable government policies and rupee depreciation.

Data compiled by the DGCIS under the Union Ministry of Commerce showed total textiles and apparel exports at Rs 196.36 billion ($ 2.86 billion) for July 2018 compared to Rs 176.92 billion ($2.74 billion) for the corresponding month last year. Total textiles exports witnessed a jump of 15 per cent to Rs 108.79 billion ($1.58 billion) for July 2018 versus Rs 94.29 billion ($ 1.46 billion) in the comparable month of previous year. Moving in tandem, India’s apparel exports recorded a jump of 6 per cent to Rs 87.57 billion ($1.27 billion) for July 2018 as against Rs 82.63 billion ($1.28 billion) for the same month last year.

Read the rest of this entry »