Home / Knowledge / News / Textiles / Indian textile sector keen to explore emerging markets
Indian textile sector keen to explore emerging markets
06
Apr '13
Indian textile and garment manufacturers are eyeing on emerging markets, including South America, Japan, Australia, New Zealand and Africa, for exports.  
 
According to industry representatives, Indian textile sector witnessed a negative growth mainly due to decline in clothing exports in 2012-13. However, exports to non-traditional markets recorded positive growth during this period and the textile and apparel makers expect the growth to continue in the current fiscal year. 
 
Speaking to fibre2fashion, secretary of Confederation of Indian Textile Industry (CITI), Mr. DK Nair said, “Last fiscal year may have ended with a negative growth in exports of textiles, basically because of the decline in garment exports. But now the demand for our garments has started improving in the traditional markets and exports to some new markets have also started growing. Thus, our exports of textiles during 2013-14 are expected to register a significant positive growth.”
 
“There is also a perceptible improvement in production and domestic demand for all textile products,” he adds.
 
When asked about shifting focus to emerging markets, he says, “The focus needs to be on the traditional markets, since global consumption of textile products is substantially in our traditional markets. Emerging markets in Latin America, Africa and South East Asia including Japan are potential areas for improving our export of garments. For non-apparel textiles, Asia and Europe will remain the major markets.”
 
During the 11 months of the last fiscal year, clothing sector recorded a shortfall in exports by 8 percent and declined to US$ 11.5 billion, compared to US$ 14 billion worth of garment exports made in the year 2011-12. 
 
Mr. Rahul Mehta, president of Clothing Manufacturers Association of India (CMAI), says, “I see a slight improvement in the exports this year since the US economy is showing signs of some recovery and efforts of the industry to diversify into non-traditional markets will start bearing some fruits.”
 
Some of the emerging markets being focused by the textile and apparel makers for last few years include South America, Japan, Australia and New Zealand.
 
“Entry into new markets is never easy and it is a long-term exercise. But hopefully, last few years’ efforts will start showing results this fiscal year,” Mr. Mehta opines.
 
Last month, chairman of Apparel Export Promotion Council (AEPC), Mr. A Sakthivel proposed to the Union Minister for Commerce, Industry & Textiles Mr. Anand Sharma to increase duty credit scrip from the present 3-4 percent to 5 percent for the non- traditional markets to reduce the dependency on the US and the EU. 
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Rieter

Textiles | On 22nd Aug 2017

Rieter unveils new generation of RDB-D 50 draw frame

Rieter, a producer of textile machinery and automobile components,...

Textiles | On 22nd Aug 2017

PTEA concerned over sluggish textile sector growth

The Pakistan Textile Exporters Association (PTEA) has expressed...

Textiles | On 22nd Aug 2017

Asian Propylene prices march higher last week

Propylene prices went up in Asia in the last week due to tight supply ...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Ashok Desai
Bombay Textile Research Association

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

Larry L Kinn
Suominen Corporation

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

August 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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