Home / Knowledge / News / Textiles / Textile companies facing reduction in overseas orders
Textile companies facing reduction in overseas orders
Feb '09
Textiles Export Promotion Council/bodies have been reporting substantial slow down in demand from overseas markets especially from Europe and the US. Subsequently, the domestic industry sources also have been reporting production cuts and capacity under utilization.

The exporters to the US have been reporting about payment defaults. There are also instances where the overseas buyers have been asking for price reduction and have delayed payments.

The exports of textiles and clothing products from India have increased steadily during the last five years from US$ 13.5 billion in 2003-04 to US$ 22.13 billion in 2007-08 – US$ 13.5 billion in 2003-04, US$ 14.03 billion in 2004-05, US$ 17.08 billion in 2005-06, US$ 19.15 billion in 2006-07 and US$ 22.13 billion in 2007-08.

However, due to economic slowdown, exports of textiles and clothing may fall short of the target during the current year. USA, which is India's single largest market for textiles & clothing products, and many other major buyer countries have been facing economic slow down leading to adverse impact on India's exports.

The likely shortfall in achieving the target is attributable to general decrease in the volume of imports of textiles & clothing by the major buyer countries and erosion of competitive edge of the exporters in the global markets due to high domestic transaction costs and incidences of multiple duties and taxes. Government have recently announced relief packages for exporters to counter the slow down in exports following the global financial crises, which include reduction in interest rates on export finance, increased fund allocation for textiles etc.

This information was given by the Minister of State for Textiles, Shri E.V.K.S. Elangovan in a written reply in the Rajya Sabha.

Press Information Bureau

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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