The textile industry expects exports to increase with the government extending refund of State and Central taxes on shipments of apparels and made-up goods.
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Exporters from the India’s largest man-made fabric (MMF) hub in Surat have stopped exports of fabrics to Pakistan in the aftermath of dastardly attack by a terrorist of Jaish-e-Mohammed (JeM) on a CRPF convoy in Jammu & Kashmir’s Pulwama district a few days ago.
India’s cotton yarn and fabric exports are struggling because of the duty disadvantage faced by the Indian exporters in major markets, pointed out the Confederation of Indian Textile Industry (CITI).
Turkey’s textile industry foresees weaker demand in the domestic market as rising costs will push prices higher, but hopes to boost exports this year.
Pakistan’s textile and clothing exports recorded a meagre 0.68 per cent year-on-year surge to $1.139 billion in December 2018, taking the six-month (July-December FY19) exports to $6.645 billion up 0.06 per cent.
The exports of textiles item have increased to $35.67 billion in 2017-18. The Government has fixed export targets for textile and apparel including handicrafts for 2018-19 at $47.29 billion.
Turkey is already doing about $300 million in business with the United States related to home textiles, but Pinar Tasdelen Engin, chairperson of the Uludag Textile Exporters’ Association (UTIB), would like to see that figure rise.