Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Apparel/Garments / Tough global competition awaits Indian apparel exports: ICRA
Tough global competition awaits Indian apparel exports: ICRA
Mar '18
The growth rate of India’s apparel exports will depend on the industry’s ability to stride across the new taxation and export incentive regime and severe global competition, says a recent report by rating agency ICRA. Uncertainty looms on the apparel exports to the United Arab Emirates (UAE) due to unfathomable trends in the past few months, says the report.

India’s apparel industry faces liquidity challenges from the transition to the new regime and additional challenges from intense competitive pressures in the global market, mainly because of impending trade agreements and foreign currency movements, a news agency reported citing the ICRA document.

Following upward revision in export incentives, India reported a 6-20 per cent growth in apparel exports to key nations like the United States, the United Kingdom, Germany, France and Spain during November-December 2017, it said.

However, overall apparel exports were down by 1 per cent in the first month of fiscal 2017-18, it added, saying the decline has been primarily driven by the sharp dip in exports to the UAE market.

UAE had emerged as one of the prominent apparel export destinations for India, with its share increasing to 23 per cent in fiscal 2016-17 from 12 per cent in fiscal 2013-14, according to the report.

For the 10-month period ending June 2017, the country’s apparel exports to the UAE grew at a sharp pace of 56 per cent, but declined fast by 45 per cent since then.

Globally, apparel trade has stayed subdued for the third consecutive year, expanding by just 1 per cent in calendar year 2017 on a low base, following a 2 per cent and 5 per cent decline witnessed in 2016 and 2015, respectively. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Trump signs revised free trade agreement with S Korea

Textiles | On 25th Sep 2018

Trump signs revised free trade agreement with S Korea

President Donald Trump signed a revised free trade agreement with...

'India can take up lack of capacity in US, China markets'

Textiles | On 25th Sep 2018

'India can take up lack of capacity in US, China markets'

India can now take up the lack of capacity in the US and Chinese...

Indonesian textile industry targets exports of $14 bn

Apparel/Garments | On 25th Sep 2018

Indonesian textile industry targets exports of $14 bn

With a January-July 2018 exports figure of $7.74 billion, the...

Interviews View All

Headhonchos, Indian fashion industry

Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Representatives, Textile & apparel industry

Textile & apparel industry

GST is a complicated and lengthy process

Spokesperson, Hugo Boss

Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Varsha Wadhwa, VW

Varsha Wadhwa

Coming from a family that ran a business of jute and linen mills since...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on

Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2018

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

news category

Related Categories:

Advanced Search