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 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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