Home / Knowledge / News / Textiles / As exports fall, TEA appeals for Govt intervention
As exports fall, TEA appeals for Govt intervention
16
Sep '15
There is bad news for the country’s exporters. India’s exports during August 2015 were valued at $21266.31 million which was 20.66 per cent lower in dollar terms than the level of $26803.48 million during August 2014, the Commerce and Industry Ministry said in a statement.

Cumulative value of exports for the period April-August 2015-16 was $111094.47 million as against $132529.64 million registering a negative growth of 16.17 per cent in dollar terms over the same period last year.

Imports during August 2015 were valued at $33744.28 million which was 9.95 per cent lower in dollar terms over the level of imports valued at $37472.78 million in August 2014. Cumulative value of imports for the period April-August 2015-16 was $168610.56 million as against $190747.68 million registering a negative growth of 11.61 per cent in dollar terms over the same period last year, the statement said.

Oil imports during August 2015 were valued at $7357.47 million which was 42.59 per cent lower than oil imports of $12814.77 million in the corresponding period last year. Oil imports during April-August, 2015-16 were valued at $41502.37 million which was 38.79 per cent lower than the oil imports of $67805.81 million in the corresponding period last year.

Non-oil imports during August 2015 were estimated at $26386.81 million which was 7.01 per cent higher than non-oil imports of $24658.01 million in August, 2014. Non-oil imports during April-August, 2015-16 were valued at $127108.19 million which was 3.39 per cent higher than the level of such imports valued at $122941.87 million in April-August, 2014-15.

The trade deficit for April-August 2015-16 was estimated at $57516.09 million which was lower than the deficit of $58218.04 million during April-August 2014-15.

The latest export figures have rattled the Tirupur Exporters Association (TEA). In a press release, TEA President Dr. A Sakthivel said the all India readymade garments exports, including Tirupur knitwear exports has declined by 7.3 per cent in August compared to the corresponding month of last year 2014-15.

He said there is an urgent need to implement pending measures like 3 per cent Interest Subvention on Packing Credit, reduction of bank interest rates, refund of Duty Drawback Rate without delay, improvement in the infrastructure of road and port, 24x7 operation in ports for all shipping bills, refund of TUFs Interest subsidy to arrest the downfall and restore the growth of exports,

He appealed to the Central Government to expedite the measures on urgent basis.

Dr.A.Sakthivel pointed out that India’s competitiveness in textile and clothing exports has come down further due to the devaluation of the Chinese currency. He said that the employment intensive RMG sector should be given thrust to increase exports and employment.

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 24th Jul 2017

Gartex all set to feature garment, textile solutions

Complete value chain of garment and textile manufacturing solutions...

Courtesy: Abercrombie & Fitch

Apparel/Garments | On 23rd Jul 2017

Abercrombie & Fitch launches products on Alibaba Tmall

Abercrombie & Fitch has announced the launch of Abercrombie & Fitch...

Apparel/Garments | On 23rd Jul 2017

NRF urges Congress to reject border adjustment tax

The National Retail Federation has urged Congress to reject a...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Giorgio Mantovani
Corman S.p.A

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

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

Ritu Kumar
Label Ritu Kumar

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

July 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

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

Yes No

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

Yes No

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


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



X