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

AAFA hails passage of Miscellaneous Tariff Bill in US House

Apparel/Garments | On 24th Jan 2018

AAFA hails passage of Miscellaneous Tariff Bill in US House

The American Apparel & Footwear Association (AAFA) has applauded the...

India’s yarn, fabrics, made-ups imports rise 20% in Dec

Textiles | On 24th Jan 2018

India’s yarn, fabrics, made-ups imports rise 20% in Dec

India’s imports of yarn, fabrics and made-up articles during December ...

India’s Liberty Shoes plans adding 50 stores by 2019

Apparel/Garments | On 24th Jan 2018

India’s Liberty Shoes plans adding 50 stores by 2019

Indian footwear major Liberty Shoes is preparing to open about 50...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

January 2018

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
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

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
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

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
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

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
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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