Home / Knowledge / News / Textiles / Textile companies facing reduction in overseas orders
Textile companies facing reduction in overseas orders
20
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

Apparel/Garments | On 26th Sep 2017

US raises annual AGOA quota for textiles

The US Committee for the Implementation of Textile Agreements has...

Textiles | On 26th Sep 2017

Gujarat hopes extended textile policy to attract Rs 5000 cr

The Gujarat government feels that its recent decision to extend its...

Apparel/Garments | On 26th Sep 2017

Cash burn by e-tailers in India may double during festivals

During this year’s festival season, which has already started,...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Johan Berlin
InvestKonsult Sweden AB

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Aditi Somani
Aditi Somani

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

Robert Brunner
Devereux

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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