Home / Knowledge / News / Textiles / Early turnaround possible if Govt addresses issues – Mr Nair, CITI
Early turnaround possible if Govt addresses issues – Mr Nair, CITI
15
Jun '09
DK Nair
DK Nair
If industry experts are to be believed, Indian textile and apparel exports are in for a turnaround and may pick pace in the next few months. The exporters are venturing in to new markets as well as there are expectations of a turnaround in the traditional markets of the US and EU.

Figures released by Apparel Export Promotion Council indicate that shipments of apparels fell to US $908 million, $933 million and $800 million in, February, March and April 2009 respectively from $951 million, $963 million and $886 million in the same months of 2008. It was only in the month of January that, shipments of clothing recorded positive growth in growing from $923 million in January 2008 to $972 million in 2009.

Fibre2fashion spoke exclusively to Mr DK Nair, Secretary General of the Confederation of Indian Textile Industry who said, “During 2008-09, there was no growth in the textiles and clothing industry and as can be seen from the IIP data, production had fallen significantly during the second half of the year, offsetting some growth recorded during the first half”.

He continued, “In the case of exports also, the year would have ended flat, or with a marginal decline since March data has not been released yet, but quick estimates of DGCI&S, reported in the media show that there was a decline of 45 percent in cotton textiles compared to March 2008. This shows that the total for the year would be negative, compared to the previous year”.

“Profitability of the industry as evident from BSE results show that most of the units and the sector as a whole have made losses, though there are a handful of individual units, which have made profits and during 2009-10, there will surely be negative growth in the first half in production, exports and profitability.

He concluded by saying, “However, there can be a recovery during the second half, if government addresses some of the major issues meanwhile. The Central Budget and the National Foreign Trade policy would provide the opportunity to the government to do so”.

Fibre2fashion News Desk - India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Eric Scholler
Groz-Beckert

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

Mohammad Hassan
Biax Fiberfilm

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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