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

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

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Larry L Kinn
Suominen Corporation

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

Kai Poehler
Voith Paper GmbH & Co. KG

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

Paolo Ocleppo
Sandvik Hyperion

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

Judy Frater
Somaiya Kala Vidya

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

Prathyusha Garimella
Prathyusha Garimella

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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:
April 2017

April 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



X