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

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Silke Brand-Kirsch
Schlegel und Partner

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

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