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Textile industry self-sufficient in raw material requirements
15
Aug '08
India is one of the few countries across the globe to have a positive trade balance of revenues generated from exports in comparison to imports related to the textile industry.

The country earned revenues of US $16.69 billion from exports in 2006-07 and spent just $2.29 billion in imports of textile related products which is also an indicator of the levels of self sufficiency achieved by the sector for its raw material requirements.

The industry imported goods worth $1.98 billion in 2006-07 and saw a growth of 15.58 percent in 2007-08 in comparison to 2006-07. The major items of import were cotton yarn/fabrics, manmade filament/spun yarns with yarns and fabrics other than cotton and manmade accounting for the lion's share.

Imports of Yarns, fabrics and madeups' articles other than cotton and manmade amounted to $1050.03 million in 2007-08 compared to $901.06 million in 2006-07 to post a growth of 16.53 percent. The total weightage among all textile products imported in to the country accounted for 45.74 percent of all shipments.

The other category with the second highest imports was manmade filament/spun yarn. Import bill for this section grew from $555.43 million in 2006-07 to $639.58 million in 2007-08 to record a growth of 15.15 percent and also accounted for 27.86 percent of all imports from the sector.

The import bill of cotton yarn/fabrics reached $319.14 million in 2007-08, in comparison to $318.58 million in 2006-07, which resulted in a growth of a marginal 0.18 percent which goes to show the self sufficiency of the industry in cotton. Cotton textiles and apparels had achieved exports of 11.13 billion dollars in 2007-08 in comparison.

Ready made garments, either knits or woven totaled $112.86 million versus $73.79 million, Madeups' textile articles reached $102.82 million in comparison to $71.31, Woolen yarn and fabrics touched $47.21 million in contrast to $31.86 million in 2007-08 and 2006-07 respectively.

The biggest positive factor in favour of the importers in 2007-08 was the appreciation of the rupee against the dollar which in turn resulted in huge cost savings. The rupee stood at Rs40.26 in 2007-08 in contrast to Rs45.25 in 2006-07.

Click here to view statistical data

Fibre2fashion News Desk - India

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