Home / Knowledge / News / Textiles / Slowdown in EU, US impact India's textile exports
Slowdown in EU, US impact India's textile exports
13
Dec '12
Mr. Anand Sharma
Mr. Anand Sharma
India’s textile exports for first half of the current fiscal plummeted by 5.9 percent year-on-year to US$ 14.1 billion from exports worth US$ 14.8 billion made during April-September 2011, Textiles Minister Anand Sharma said.
 
In a written reply to the Lok Sabha, the lower house of the Parliament, the Minister noted that the fall is mainly due to slowdown in key markets like the EU and the US, The Hindu Business Line said quoting PTI.
 
He said that the Government undertook a review of the industry’s export rules under the Foreign Trade Policy 2012-13 to boost textile exports.
 
Following the review, the Government extended the two percent interest subsidy for handloom, handicraft, carpets and SMEs till March 31, 2013 and included garments in the list of items that get interest subsidy.
 
In addition, the scope of the Market Linked Focus Product Scheme has also been expanded to cover exports to the EU and the US, Mr. Sharma said. 
 
The Government has also raised the allocation towards development of textile industry from Rs. 140 billion during the Eleventh Five Year Plan to Rs. 259.32 billion under the 12th Five Year Plan (2012-17). 
 
During last fiscal, India exported textiles worth US$ 30.4 billion and for the current fiscal the Government has set a target of US$ 38 billion.
 

Fibre2fashion News Desk - India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

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 ...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Larry L Kinn
Suominen Corporation

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

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

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

Judy Frater
Somaiya Kala Vidya

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Ritu Kumar
Label Ritu Kumar

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

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search