Home / Knowledge / News / Textiles / Decline in export of textiles to USA

Decline in export of textiles to USA

09
Jul '09
As per the latest available provisional data of Directorate General of Commercial Intelligence & Statistics, Kolkata, India's textiles and clothing export to the US has indicated a growth of over 3.82% in Indian rupee terms and a decline of 8.19% in US dollar terms during April-February' 2008-09 over the corresponding period of previous year.

This information was given by the Minister of State for Textiles, Smt. Panabaaka Lakshmi in the Rajya Sabha, in a written reply to a question by Shri T.T.V. Dhinakaran. The US imports figures of textiles and clothing from top five countries including India during the period of January-April, 2009 are given below:-

The Government announced two stimulus packages on 7th December, 2008 and 2nd January, 2009 to boost India's exports including textiles exports. The measures announced under these packages, inter alia, include:-

Additional allocation of Rs.1400 crore to clear the entire backlog of Technology Upgradation Fund Scheme (TUFS).

All items of handicrafts to be included under 'Vishesh Krishi & Gram Udyog Yojana (VK&GUY)'.

Across-the-board cut of 4% in the ad-valorem Cenvat rate till 31.3.2009.

Interest subvention of 2% upto 31.3.2009 subject to a minimum of 7% per annum on pre and post-shipment export credit (since extended to 30.9.09 in the Union Budget 2009-10).

Provision of additional funds for full refund of Terminal Excise Duty/Central Sales Tax.

Enhanced back-up guarantee to ECGC to cover for exports to difficult markets/products.

Refund of Service Tax on foreign agent commissions of upto 10% of FOB value of exports as well as refund of service tax on output service while availing benefits under Duty Drawback Scheme.

Credit targets of Public Sector Banks revised upward to reflect the needs of the economy.

State Level Bankers Committee would hold meetings for resolution of Credit issues of MSMEs.

Guarantee cover under Credit Guarantee Scheme doubled to Rs. 1 crore with cover of 50%.

DEPB rates restored to pre - November, 2008 levels and extended till 31.12.2009.

Duty Drawback on knitted fabrics enhanced retrospectively from 1.9.2008.

Ministry of Textiles


Must ReadView All

Pic: UNCTAD

Textiles | On 22nd Oct 2020

Trade rebounds marginally in Q3, stays negative: UNCTAD

The United Nations Conference on Trade and Trade and Development...

Pic: Shutterstock

Apparel/Garments | On 22nd Oct 2020

APAC garment units suffer as COVID hits supply chain: ILO

The COVID-19 crisis has badly hit the garment sector in the...

Pic: Shutterstock

Textiles | On 22nd Oct 2020

RCEP pact likely to be signed at 4th RCEP Summit in Nov

The Regional Comprehensive Economic Partnership (RCEP) is likely to...

Interviews View All

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Krishnanand Tripathi, Textrade International Ltd

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Lukas Hartmann,

Lukas Hartmann

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

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

N Nithyanandan,

N Nithyanandan

Incorporated in 1999, Purani Textiless Private Limited is one of the...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

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

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

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

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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