Home / Knowledge / News / Apparel/Garments / 'Indian garment exports on track to achieve $17bn target'
'Indian garment exports on track to achieve $17bn target'
20
Feb '14
Despite the global slowdown, the performance of India’s garment export industry is good and it is expected to achieve the target of US$ 17 billion set for the current financial year 2013-14, Panabaaka Lakshmi, Minister of State in the Ministry of Textile, has said.
 
India’s apparel exports stood at $11.026 billion in 2010-11, which increased to $13.083 billion in 2011-12, but declined marginally to $12.397 billion in 2012-13, the Minister informed the Rajya Sabha, the upper house of the Indian Parliament.
 
Ms. Lakshmi said there is a regular review on the performance of clothing exports, and the Government is taking various steps in consultation with the readymade garment industry to expand exports of clothing products.
 
Enlisting the recent steps taken by the Government to boost the export of textile and clothing, she said the Market Linked Focus Product Scheme (MLFPS) has been extended till March 31, 2014, for export to the US and the EU in respect of items falling in Chapter 61 and Chapter 62 (textiles and clothing).
 
Hong Kong, Indonesia, South Korea, Pakistan and Philippines have been added in the list of countries for export of Woven Cotton Fabrics under the MLFPS. Likewise, 27 EU countries have been added in the list for export of Gloves, Mittens and Mitts of Cotton filled with cotton fibre under the MLFPS.
 
The north Indian town of Gurgaon has been added as Towns of Export Excellence (TEE) for Textiles.
 
Further, about 15 new products related to the textile sector were added under Focus Product Scheme (FPS) in April 2013.
 
Incremental Export Incentive Scheme has been extended for 2013-14 vis-a-vis 2012-13 for specified sectors, including the textile sector.
 
The two percent Interest Subvention Scheme for Ready-Made Garments has also been extended for 2013-14 and enhanced to 3 percent. Items of Chapter 63 also added in Interest Subvention Scheme.
 
In view of the existing Government schemes, India’s apparel export sector is likely to perform well both in the remaining months of the ongoing financial year, as well as in the next financial year, the Minister said, according to an official statement.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 4th May 2016

Ahead of FTA talks with China, Lanka worried about TPP

Even as Sri Lanka prepares for the third round of talks for a Free...

Textiles | On 4th May 2016

IMF predicts Asian growth to remain strong

The International Monetary Fund (IMF) expects growth in Asia and the...

Courtesy: GMAC Cambodia

Apparel/Garments | On 4th May 2016

Cambodia’s garment exports rise 13% in Q1

Garment and footwear exports from the Southeast Asian nation of...

Interviews View All

Narendra Somani
Modelama Exports Limited

What are the challenges faced by an exporter in terms of funding and...

Humayun Kabir Salim
Dird Composite Textile Ltd

The importance of textile industry in the economy of Bangladesh is very...

Jurgen Gauger
Spreadshirt

How is the market for personalised prints on garment shaping up? What are...

Mr. K.K. Agarwal
Alps Industries Limited

Mr. K.K. Agarwal, Chairman of Alps Industries Limited, aged 69 years is a...

Mr. Johan Berlin
Investkonsult Sweden AB

Mr. Johan Berlin is the majority shareholder and Managing Director of...

Mr Martin Kleinebrecht
Johns Manville

Martin Kleinebrecht (40) is the Marketing Leader of Nonwovens Europe at...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search