Home / Knowledge / News / Apparel/Garments / CMAI expects $17bn garment exports from India in 2013-14
CMAI expects $17bn garment exports from India in 2013-14
19
Jun '13
Mr. Rahul Mehta
Mr. Rahul Mehta
India’s garment exports are likely to increase to US$ 17 billion this fiscal, compared to US$ 14 billion exports made during 2012-13, according to Clothing Manufacturers’ Association of India (CMAI).
 
Speaking at a press conference to announce the National Garment Fair that is to be held from July 1, CMAI president Rahul Mehta said India will be able to achieve apparel export worth US$ 17 billion this fiscal year.
 
In the first two months of financial year 2013-14, India exported apparel worth US$ 2.3 billion, registering a 15 percent growth compared to US$ 2 billion exports made during the corresponding period of last fiscal.
 
Mr. Mehta said India’s apparel industry has showing positive growth, after a year of stagnation, mainly on account of the imposition of the 10 percent excise duty last year.
 
The recent depreciation of the Indian rupee vis-à-vis other currencies, the happenings in Bangladesh, and high production cost in China are factors favouring Indian garment exporters.
 
In recent years, Indian garment exporters have shifted their focus to non-traditional markets in Latin America and other regions, which also favours a boost in exports.
 
However, rising cotton and yarn prices and lack of availability of skilled labour are among the problems currently faced by the Indian garment industry, Mr. Mehta said.
 
India’s clothing industry is targeting a growth of six to seven percent this year, and 10-12 percent next year, he added.
 
The rising demand for readymade garments in Tier-II and Tier-III cities is one of the reasons that will drive India’s garment industry.
 
India’s domestic apparel market is estimated at Rs. 2,000 billion, with the unorganized sector accounting for more than half of the market. With the removal of the excise duty coupled with a growing demand for branded garments, India’s apparel industry is expecting to grow to Rs. 4,000 billion by 2018.
 
Separately, CMAI has launched a quarterly domestic apparel index to gauge the progress of the industry. The index aims to capture the growth, investment and future plans of the top 50 brands.
 
At present, the index is 118, which means the garment industry is 18 percent optimistic on future growth prospects.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Larry L Kinn
Suominen Corporation

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

Giorgio Mantovani
Corman S.p.A

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ritu Kumar
Label Ritu Kumar

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

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search