Home / Knowledge / News / Textiles / 'Less demand may make it hard to achieve export target'
'Less demand may make it hard to achieve export target'
09
Dec '16
The $48 billion target for textiles and garment exports for 2016-17 may be “hard to achieve”, mainly due to less demand in major markets like the US, EU and China. However, the government has taken several measures to promote exports. These include the special package for garment sector announced in June this year, and various export promotion schemes.

When asked whether the target would be “hard to achieve” due to less demand from the US, EU and China, Union textiles minister Smriti Irani replied in the affirmative, media reports said.

Informing about the steps taken by the government to help the textile and garment industry achieve its export target, the minister, in a written reply to the Lok Sabha, said a special package of incentives was announced in June 2016 to promote garment exports. The package includes relaxation in certain labour laws, income tax concession, 100 per cent employers' contribution to EPFO by government, rebate of state levies for exports, etc.

In addition, the government implements various export promotion schemes to promote exports of all the segments in the sector on a sustained basis, Irani said. “These include, Interest Equalisation Scheme, Merchandise Exports from India Scheme, Market Access Initiative, Market Development Assistance and Duty Drawback.”

India's total textiles and apparel exports stood at $40 billion in 2015-16 compared to target of $47.5 billion. (RKS)

Fibre2Fashion News Desk – India


Interviews View All

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

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

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Kai Poehler, Voith Paper GmbH & Co. KG

Kai Poehler
Voith Paper GmbH & Co. KG

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

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Varsha Wadhwa, VW

Varsha Wadhwa
VW

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

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

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

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search