Home / Knowledge / News / Apparel/Garments / India's apparel exports may touch $20bn in FY17: CMAI
India's apparel exports may touch $20bn in FY17: CMAI
29
Jun '16
The value of clothing exports from India is likely to touch $20 billion during the ongoing fiscal 2016-17, due to push from the government through the Rs 6,000 crore special package for textiles and apparel sector announced last week, according to the Clothing Manufacturers Association of India (CMAI).
 
The package is aimed at creating one crore new jobs over a three-year period and attract $11 billion new investments, and increase garment exports to $30 billion.
 
“India's garment export value, estimated at $16.80 billion now, is expected to reach $20 billion during the current fiscal. The special package announced by the government will not only help in attracting large investments but also enhance production capacity,” CMAI president Rahul Mehta told mediapersons in Mumbai.
 
The inclusion of state-level taxes in the computation of duty drawback will provide a major relief to the exporting segment, Mehta said at the press conference called to announce the CMAI's 63rd National Garment Fair to be held from July 13-15, 2016.
 
Talking about the first quarter ending June 30, 2016, Mehta said the industry may see a five per cent decline in exports due to the prevailing downturn in the global economy which continues to adversely impact India's garment industry.
 
He said the domestic garment industry also faces dull market conditions and may see flat growth or a two per cent decline in consumption in the quarter ended June, 2016.
 
Commenting on Britain's exit from EU, Mehta said there may not be immediate fallout of the referendum on the business front, but there could be a period of uncertainty and confusion for some time.
 
The apparel industry also sees huge export potential in Iran, which has a $16 billion market and nearly 60 per cent of the demand is met through imports, he added.
 
The three-day National Garment Fair will see participation from 812 brands and nearly 40,000 retailers from across the country are expected to visit the fair, Mehta said.
 
The showcase at the fair will include all kinds of fashionable and most trendy collections of garments and outfits from brand apparel companies. (RKS)
 

 

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 10th Apr 2021

Turkey's exports to UK surge in Q1 following post-Brexit FTA

Turkish exporters have seen a noteworthy surge in exports to the...

Pic: Sunshine Seeds / Shutterstock.com

Textiles | On 10th Apr 2021

South African woven cotton textile sector workers get 5.5% rise

Those working in the woven cotton textile sub-sector in South Africa...

Pic: Shutterstock

E-commerce | On 10th Apr 2021

H&M launches on e-commerce platform Zalora in southeast Asia

H&M has joined hands with Zalora and has launched on the e-commerce...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Textile Industry, Head honchos

Textile Industry
Head honchos

Cooperate and collaborate for greater good

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Siddhant Sinha,

Siddhant Sinha

Set up by Pradeep Sinha, a graduate engineer from Manipal Institute of...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Brad Holschuh, Wearable Technology Lab, University of Minnesota

Brad Holschuh
Wearable Technology Lab, University of Minnesota

A new study led by researchers at the University of Minnesota's Design of...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

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


March 2021

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


Advanced Search