Home / Knowledge / News / Textiles / Indian textile exports may miss FY'14 target by $1bn
Indian textile exports may miss FY'14 target by $1bn
27
Feb '14
The exports of textiles and apparel from India are likely to miss the target of US$ 43 billion set for the current financial year by about $1 billion, Textiles Minister K Sambasiva Rao has said, Business Standard reported quoting PTI.
 
Speaking to reporters at an event in New Delhi, Mr. Rao said India’s textile exports, including garment exports, for the ongoing fiscal year 2013-14 are likely to around $42 billion.
 
In 2012-13, India’s textile and apparel exports fetched $34 billion and the Government has set an ambitious target of achieving $60 billion in exports in 2014-15.
 
The textile industry in India directly employs more than 35 million people, and it accounts for 12 percent of the country’s total industrial production. The sector also contributes about 12 percent to the nation’s export earnings.
 
In order to increase employment in the textile industry, the Indian Government runs various schemes like Integrated Skill Development Scheme (ISDS) and Scheme for Integrated Textile Parks (SITP). 
 
Further, to ensure conducive policy environment and encourage investment, the Government has taken various steps and launched the Technology Upgradation Fund Scheme (TUFS).
 
To encourage exports including export of processed clothes, the Government provides incentives under the Foreign Trade Policy, namely Interest subvention, Market Access Initiative (MAI), Market Development Assistance (MDA)Schemes and Focus Market & Focus Product Schemes.
 
To boost textile and garment exports, the Ministry of Textiles has adopted four pronged strategy that includes larger textiles trade shows, skill development initiatives, compliance programmes and duty drawback schemes.
 
In addition, the Government has made a provision of Rs. 5 billion in the 12th Five Year Plan (2012-17) for introducing a scheme for Integrated Processing Development.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian textile & apparel exports fall 13% in Jan 2018

Textiles | On 17th Feb 2018

Indian textile & apparel exports fall 13% in Jan 2018

A decline of 13 per cent year-on-year has been observed in the...

Brazilian cotton prices move up in first fortnight

Textiles | On 17th Feb 2018

Brazilian cotton prices move up in first fortnight

Cotton prices rose in Brazil in the first fortnight of February, as...

Courtesy: OrganoClick

Textiles | On 17th Feb 2018

OrganoClick introduces OrganoTex for water repellency

OrganoClick has introduced OrganoTex, a textile impregnation product...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kevin Nelson
TissueGen

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

Giorgio Mantovani
Corman S.p.A

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

February 2018

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
70.0%
No
13.0%
Skip
17.0%

Total Votes: 100

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
63.0%
No
30.0%
Skip
7.0%

Total Votes: 100

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
88.0%
No
9.0%
Skip
3.0%

Total Votes: 100

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
83.0%
No
8.0%
Skip
9.0%

Total Votes: 100


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