Home / Knowledge / News / Textiles / India's exports improving, contraction at 10-12%: minister

India's exports improving, contraction at 10-12%: minister

Jun '20
Pic: Shutterstock
Pic: Shutterstock
India’s exports are improving as the contraction in outbound shipments in June so far has come down to 10-12 per cent over April’s 60 per cent, according to commerce and industry minister Piyush Goyal, who recently said he is awaiting data for the third week of June. Declining for the third straight month, India’s exports fell by 36.47 per cent in May to $19.05 billion.

In the first two weeks of this month, India has reached up to 88-90 per cent of the level of exports that it witnessed in June 201, Goyal said at a function organised by the Confederation of Indian Industry (CII).

The focus is on sustainable growth and not on giving ‘handout’” for exports as subsidies are never good for businesses and don’t help domestic exporters in engaging with the world from a position of strength and power, he was quoted as saying by a news agency.

“We have some constraints in [allowing foreign direct investment in] multi-brand retail because we have a large part of Indians dependent on small mom-and-pop stores,” he said, adding that these shops have kept essential supplies available and played a key role during the ongoing coronavirus pandemic.

The minister said that the government has to balance security concerns and opening up of economy and is giving special focus to high quality standard products.

He said 15-17 states have undertaken game-changing labour reforms recently and a lot of it will come in the public domain in the next few days.

Fibre2Fashion News Desk (DS)

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 15th May 2021

Australian govt earmarks Au$1 mn for boosting fashion industry

The government of Australia has earmarked Au$1 million to promote and ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 15th May 2021

Prime Content| US textiles & apparel imports grow 4.32% in Q1 2021

The import of textiles and apparel by the United States increased by...

Pic: Amanda Wakeley

Fashion | On 15th May 2021

British luxury fashion company Amanda Wakeley enters administration

The British luxury fashion designer Amanda Wakeley’s company, AW...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor <g...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Hemant Bheda, Arevo

Hemant Bheda

Arevo, based in Silicon Valley in California, develops technology to...

Thomas Ong P S, NanoTextile

Thomas Ong P S

Malaysian company NanoTextile Sdn Bhd taps into the potentials of...

Dave Rousse, INDA

Dave Rousse

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

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

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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

May 2021

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

Advanced Search