Home / Knowledge / News / Textiles / 'Demand from US to propel Indian textile exports in 2014'
'Demand from US to propel Indian textile exports in 2014'
27
Dec '13
For the most part of 2012 and 2013 the textile sector was besieged by twin impacts of slowing domestic consumption and slowdown in export demand.

However recent pick up in export demand is expected to improve the fortunes of textile sector in the coming year. With domestic economic growth expected to remain subdued during first half of 2014, improvement in domestic consumption of textile products is still some distance away.

Higher demand from US market would propel textile exports from India

In dollar terms the total value of textile products exported from India touched US$ 33 bn in FY13, a decline of 3% compared to previous fiscal. Lower demand from key markets of the US and EU, which were reeling under recessionary condition was the major reason for the dip in exports during FY13.

However, growth in textile exports have picked up since Apr-13 compared to same period last fiscal year. During Apr-Sept 2013, textile exports from India reached US$ 16 Bn, which is 8% higher than the exports during the same period last year.

Pick-up in demand from the US market is the prime reason for this reversal. With economic scenario in the US showing signs of revival, demand for textiles from US consumers is expected to go up. This would help in the growth of textile exports from the country.

Weak rupee to aid in higher export realization

Revival of demand from the US market along with continued weakness of rupee against US dollar is expected to aid in higher export realization in rupee terms.

Initiatives to reduce the dependence on select western markets to help in the growth of the sector

Developed markets of the US and select countries in EU region account for the bulk of textile exports from India. Economic recession in these markets since 2008 impacted the textile exports from India.

To reduce the dependence on these markets the government has incorporated several measures in the Focus Market Scheme. As per the new measures, textile exporters would be able to avail duty credit scrip on export to 26 additional countries apart from existing destinations.

Continued government support in the form of policies like Focus Market Scheme would encourage exporters to explore markets outside the traditional destinations of the US and EU. These developments are expected to widen the export markets for textile exporters and gradually limit the over dependence on select markets.

Dun & Bradstreet


Interviews View All

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Kalai Selvi,

Kalai Selvi

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

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints 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