India’s textile and clothing exports in 2017-18 rose marginally by 0.7 per cent totaling to $36737.93 million over the previous fiscal
Search Results: apparel exports (1174)
The Union Government has assured the textile and clothing industry that it will identify Central and State embedded taxes and work out a reimbursement scheme soon.
Indian textile and apparel market is estimated at $118 billion, 69% of which is domestic consumption while exports constitute the rest 31%.
The global apparel consumption in 2016 is estimated to be $1.7 trillion, which formed around 2 per cent of the world GDP of $73.5 trillion. EU-28 was the largest apparel consumer market worth $400 billion, which was followed by markets of the USA, China and Japan. These top four markets together constituted approximately 62 per cent of the global apparel consumption.
The year 2017 had a few demons that the textile industry needed to exorcise: Demonetisation and GST, which tore into the fabric of the small sector, the after-effects of which are still lingering on.
Texfair 2017 in Coimbatore ended on an optimistic note with the textile industry looking forward to a happier 2018.
With more than 50,000 small, medium and large-scale industries and textile mills in an around Coimbatore and Tirupur, an event as big as Texfair, which focuses on textile machinery, accessories and spares, is a must for the Southern market of India. In its 11th edition, Texfair 2017, organised by the Southern India Mills’ Association (SIMA), provided a platform for the stakeholder to zero in their investments and expenses prudently, showcase their inventions and cost effective items and other products, enable the technocrats and shopfloor technicians to update their knowledge on the latest technology and create an awareness on cost cutting, to encourage micro, small and medium entrepreneurs also to showcase their products and get exposure to the market. Texfair 2017 was held from November 17-20, 2017 at Codissia Trade Fair Complex, Coimbatore.
On one hand, India is showing its presence in cotton textile products, whereas on the other hand, China has high dominance in overall textiles, recounts Avinash Mayekar.
Replying to the questions from the ITJ, Persistence Market Research Report says that textiles and apparel industry growth is strongly linked to the overall global economic growth. Excerpts from the interview.
Why India is still a laggard in textile export while countries like Vietnam and Bangladesh are making strides?