Home / Knowledge / News / Textiles / Textile sector unlikely to reach set goals
Textile sector unlikely to reach set goals
15
Sep '08
The textile and garment exporters of India are worried as they are unable to meet the set target for the second consecutive year. Experts estimate that the difference between the target desired and achieved for the year 2008-09 can be around 21 percent.

Industry insiders opine that increased price of cotton, slowdown in US economy and rupee depreciation are some of the main reasons for being not able to achieve the targets. Sources from Cotton Textiles Export Promotion Council (TEXPROCIL) informed Fibre2fashion that, cotton prices have increased more than 35 percent during the last one year, the price increase in domestic market is basically because of uncontrolled export of this important raw material.

The government had estimated textile exports of US $31.17 billion this year, which the industry is finding difficult to achieve. It is a matter of great concern not only for the entrepreneurs but also for the Government as textile sector is among the major foreign currency earners for the country.

However, the textile and apparel exports had witnessed a rise in demand in the month of April, according to the available statistics. The nation earned nearly $2.3 billion, showcasing a significant hike of 36 percent when compared to same time of last year.

The ever rising cost of cotton, other raw materials and rise in minimum support price has risen the cost of production that will shrink the profit margins and would affect the exports as well. The companies are also facing tough competition from the global players, creating worries among related industries also.

Looking at the current scenario, it is anticipated that, the target set by Government for the textile sector to touch $55 billion by 2012, will also be difficult.

The authorities had assumed that by 2012 the industry will be worth almost $110 billion, out of which the size of domestic market will be approximately $60 billion.

Fibre2fashion News Desk - India


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

October 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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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