• Linkdin
Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow
         Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow Data-Driven Analysis to Identify the Existing and Upcoming Trends in Polyester Fiber Market. Request Report down-aerrow

Focus on labour-intensive sector as exports fall: Crisil

30 Nov '17
2 min read

Concerned over fall in India's export at a time of accelerating global trade, Crisil recently called for fast structural changes in labour-intensive sectors like apparels. Recent subdued export performance can be attributed not to unfavourable currency competitiveness but to domestic factors like disruption due to the goods and services tax regime, it said.

Global merchandise trade is expected to grow stronger at 4.2 per cent, making world trade growth higher than world gross domestic product (GDP) growth. Yet, India's exports have not been able to take advantage of this unlike countries like Vietnam, South Korea and Indonesia, a press release by the rating agency said.

This is evident in the low export growth in sectors, such as gems and jewellery, textiles and leather, which are also the most labour-intensive sectors, Crisil pointed out, saying employment in these sectors may be hit as a result. The competitiveness of these sectors has been on a sequential decline.

The latest disruptions, earlier on account of demonetisation and now due to the goods and services tax, might have pushed the competitiveness of these sectors further to the brink, Crisil said.

Though disruptions related to policy changes are transitory, the structural issues plaguing these sectors need to be addressed in order to boost their competitiveness in the global market, the agency added. (DS)

Fibre2Fashion News Desk – India

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search