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.
“At best, we will come close to $40 billion,†CITI President Sanjay Jain told , terming it a “disappointing yearâ€Â. In fact, shipments from the textile and clothing sector have consistently missed annual targets set by the government in at least the previous three financial years, since 2014-15.
Analysis of data put out by the DGCIS (Directorate General of Commercial Intelligence and Statistics) under the commerce ministry, reveals the true picture of shipments from the sector.