India’s cotton textile exports grew by 26 per cent at $6,235 million in the first six months ended September 2018 and the on-going trade war between US and China will open up new export opportunities, the Cotton Textiles Export Promotion Council (Texprocil) said.
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The domestic demand for textiles is likely to remain robust from end-user segments, supported by a strong rise in private consumption expenditure during the rest of FY19.
Vietnamese textile and clothing (T&C) enterprises are losing their competitiveness due to high costs of logistics services for exports, experts have said.
India’s trade deficit in July widened to the most in more than five years, worsening the outlook for the rupee that hit a record low a couple of days back.
Pakistan’s textile exports dropped 16.1 per cent to $1.002 billion in July 2018 compared to shipments recorded in June, which stood at $1.194 billion.
A recent Indian government’s move to introduce rules of origin (RoO) in the name of protecting its local garment manufacturers might severely hurt Bangladesh’s export growth to its neighbour.
Textile exports are likely to miss the $45 billion target for 2017-18, as the industry reels under the impact of GST roll out and tariff advantages enjoyed by competitors like Bangladesh and Vietnam, according to textile industry body CITI.