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Textile Exports
India likely to see volume of such exports inflate by $400 mn per month
This revival is mainly driven by major orders from global players like Primark, Tesco, George at ASDA and Decathlon
Pharmaceutical exports are targeted to double to $55 billion by FY30, from $27.84 billion in FY24, focusing on drug formulations and biologicals
Industry experts, however, foresee a reversal in the declining trend by July owing to moderating cotton prices and inflation in the West
In view to boosting the technical textiles sector in the country, the government has set up the National Technical Textiles Mission (NTTM) for a period of 4 years with an outlay of Rs 1,480 crores
Even as there is a slowdown in demand for Indian garments in the US and Europe, free trade agreement (FTA) with Australia is likely to provide a level-playing field for home textile exporters in 2022-23, according to a report. The build-up of inventories on account of the cut on discretionary expenditure and reallocation of expenses to services have reduced imports into the key US market, according to a India Ratings and Research (Ind-Ra) report. Consequently, the home textile segment continued to experience a demand slowdown, whereas other segments of cotton, apparel and man-made spinning continue to benefit from the China+1 sourcing and continuing US ban on the use of cotton from Xinjiang, China. However, given the discretionary nature of textile products, Ind-Ra expects the slowing demand in Europe, the US and other parts of the world to have an impact on textile exports. In addition, the report stated that small yarn players facing cotton availability issues are likely to get .
The minister said that last year, textile export was approximately USD 42 billion, while the target is to achieve USD 100 billion by next 5-6 years
Tiruppur contributed around 54.2 per cent of the country's textile exports last fiscal
How can India create 75 more Tiruppurs? What legacy has Pallonji Mistry left behind? Will fizz return to liquor stocks? What is tokenisation? All answers here
The small town of Tiruppur contributes about 90% of knit-wear exports from India. Govt now plans to create 75 textile hubs across India like Tiruppur. Find out the significance of this textile hub
Exports of ready-made garments during 2021-22 stood at $16 billion, an increase 30.4 per cent over previous year
Vishal Fabrics is the flagship of the diversified Chiripal Group and commenced operations in 1985
Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC)
India's textiles exports are expected to cross $40 billion during the current fiscal, Textiles Secretary UB Singh said on Wednesday.
India is the world's fifth biggest textile and apparel exporter with a 4% share of the $840 billion global market
During the period between April and December, 2021, total textiles and apparels exports, including handicrafts, stood at $29.8 billion
About $250 million of textiles exports were lost last month after mills in Punjab were forced to shut for 15 days, said Shahid Sattar, executive director of All Pakistan Textile Mills Association
Export of all commodities in the segment was valued at $263 billion during the April-November period in 2021-22
Surge is likely to generate 7.5-10 million new jobs
Goyal says PLI and mega textile parks scheme to be approved soon