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

Textiles | On 24th Jun 2017

Applied DNA to tag cotton for 2017/18 US ginning season

Applied DNA, provider of DNA-based supply chain security,...

Apparel/Garments | On 24th Jun 2017

NPD Group launches Trend Tracker for apparel trends

Global information company the NPD Group has launched Trend Tracker,...

Textiles | On 24th Jun 2017

Cotton USA’s first innovation competition in UK ends

Cotton USA has announced the successful close to its first innovation ...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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