Home / Knowledge / News / Textiles / Early turnaround possible if Govt addresses issues – Mr Nair, CITI

Early turnaround possible if Govt addresses issues – Mr Nair, CITI

15
Jun '09
DK Nair
If industry experts are to be believed, Indian textile and apparel exports are in for a turnaround and may pick pace in the next few months. The exporters are venturing in to new markets as well as there are expectations of a turnaround in the traditional markets of the US and EU.

Figures released by Apparel Export Promotion Council indicate that shipments of apparels fell to US $908 million, $933 million and $800 million in, February, March and April 2009 respectively from $951 million, $963 million and $886 million in the same months of 2008. It was only in the month of January that, shipments of clothing recorded positive growth in growing from $923 million in January 2008 to $972 million in 2009.

Fibre2fashion spoke exclusively to Mr DK Nair, Secretary General of the Confederation of Indian Textile Industry who said, “During 2008-09, there was no growth in the textiles and clothing industry and as can be seen from the IIP data, production had fallen significantly during the second half of the year, offsetting some growth recorded during the first half”.

He continued, “In the case of exports also, the year would have ended flat, or with a marginal decline since March data has not been released yet, but quick estimates of DGCI&S, reported in the media show that there was a decline of 45 percent in cotton textiles compared to March 2008. This shows that the total for the year would be negative, compared to the previous year”.

“Profitability of the industry as evident from BSE results show that most of the units and the sector as a whole have made losses, though there are a handful of individual units, which have made profits and during 2009-10, there will surely be negative growth in the first half in production, exports and profitability.

He concluded by saying, “However, there can be a recovery during the second half, if government addresses some of the major issues meanwhile. The Central Budget and the National Foreign Trade policy would provide the opportunity to the government to do so”.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Le Chateau

Retail | On 27th Oct 2020

Canada's Le Chateau files for bankruptcy protection

Canadian specialty retailer and manufacturer of exclusively designed...

Interviews View All

Pinkesh Jain, Everflow Petrofils Ltd

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Textile Industry, Head honchos

Textile Industry
Head honchos

Main challenges are breakdown of supply chain and shrinkage of manpower

Mario Castro,

Mario Castro

Fibraltex is an integral factory dedicated to the production of denim...

KK Lalpuria,

KK Lalpuria

Indo Count Industries is an India-based home textile company engaged in...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

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

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

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

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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


October 2020

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


Advanced Search