Home / Knowledge / News / Apparel/Garments / New fiscal year brings hope for Indian textile sector
New fiscal year brings hope for Indian textile sector
05
Apr '13
The Indian fiscal year which ended on March 31, 2013, was not a good period for the apparel sector, whether, domestic sales or exports. However, textile goods which include, yarns, fabrics and made-ups did not perform as badly as apparel exports, in the year gone by.
 
According to data available on the DGFT website, in the first 10 months of fiscal 2012-13, exports of textiles fell 1.75 percent from a year ago to US $9.87 billion, while apparel exports dipped 7.49 percent to $10.11 billion year on year.
 
"Yarn, fabrics and made-up exports did very well in fiscal which went by. Textile exports are projected to remain stable or grow by a marginal 1 percent in dollar terms for full fiscal year 2012-13, while in case of apparels, it is expected to fall nine percent year-on-year," says Mr DK Nair, Secretary General (CITI). 
 
Dr Sakhtivel – Chairman of Apparel Export Promotion Council (AEPC) reveals, “Garment exports fell mainly to the European Union, which accounts for around 50 percent of our apparel exports. To offset the loss, we have now started concentrating on non-traditional markets like, Israel, Japan, Latin America, etc and it has proved to be useful.”
 
Index of Industrial Production (IIP) also reveals that in the first ten months of the previous fiscal year, textile production rose 6.5 percent year-on-year, while garment output grew only 1.5 percent from a year ago. 
 
Even in the domestic market, sales took off mainly in the period when retailers offer discounts to consumers and here too, the ‘Sales’ period started earlier than normal.
 
Mr Rahul Mehta – MD of Mumbai-based Creative Garments Ltd says, “The year gone by was not so good, as the ‘discounting’ period started earlier than usual both in July and January. Secondly, sales trends indicate that sales picked up more in the discounting period. This does not portend well for the Indian apparel sector”.
 
All are in concurrence when they say that the new fiscal year which began on April 1, will generate sales growth in the export as well as domestic market and are hopeful that domestic sales as well as exports would pick up by 10-12 percent. 
 
Dr Sakhtivel is of the opinion that if the FTA between India and EU is signed in April or latest by May, one can expect clothing exports to surge by 25 percent in the new fiscal year. 
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search