Home / Knowledge / News / Textiles / Textile exports likely to remain flat in FY 16
Textile exports likely to remain flat in FY 16
28
Jan '16
The current fiscal is unlikely to bring cheer to India's textile and garment exporters with exports projected to remain flat. India's overall exports of textiles and clothing in 2015-16 are likely to be around $ 40 billion, similar to last year's level at $ 41.4 billion in 2014-15 and $39.31 billion in 2013-14.

"We see slowdown in China as an opportunity for us and we are looking at USD 40 billion of textiles exports this year. To overcome global slowdown, the Textile Ministry will give full support to the industry," Textile Commissioner Kavita Gupta told reporters after inaugurating the 62nd National Garment Fair organised by the Clothing Manufacturers Association of India (CMAI) in Mumbai.

Gupta said that the slowdown in China needed to be viewed as an opportunity and not as a challenge for Indian textile exports. “We need to act fast in seizing the opportunity,” she said pointing to Bangladesh and Vietnam as stiff rivals in the global market: “We need to promote every segment as we are losing out to Bangladesh and Vietnam."

Technical textiles sector, with 13 per cent share, is emerging as a sunrise sector. It is projected to grow at 20 per cent year-on-year and the segment's potential is largely untapped in the country, the textile commissioner said adding that the draft of the new textile policy is ready.

CMAI President Rahul Mehta said exports of ready-made garments is expected to reach $17 billion (about Rs 1,12,000 crore) in 2015-16 as against $ 16 billion in the previous year. Indian exports to South America, Eastern Europe and Middle East have increased significantly, but uncertainty still prevails in Europe, which is a major market, he said.

The domestic apparel industry is facing slackness but sentiment is likely to improve after the implementation of GST, Mehta said. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

Moments of EPA signing in Tokyo. Courtesy: Twitter handle of Jean-Claude Juncker

Textiles | On 18th Jul 2018

EU and Japan sign Economic Partnership Agreement

European Union and Japan have signed an Economic Partnership...

Courtesy: Tego

Apparel/Garments | On 18th Jul 2018

Tego plans to expand product range in 2018-19

Tego, a company that creates premium athletic gear for modern...

Courtesy: rawpixel.com from Pexels

Textiles | On 18th Jul 2018

Hike in import duty on textile-apparel by India beneficial

The Indian Government’s decision to raise import duty on textile and...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Ganguly
Puma India

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

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

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

Paolo Ocleppo
Sandvik Hyperion

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search