India's apparel exports may dip in FY18 over GST, global challenges

Growing uncompetitiveness, lack of refunds and incentives post GST may push back exports from $17 billion

If the 10-month data from April 2017 to January 2018 is anything to go by, India's apparel industry may post a rare decline in exports for the current fiscal 2017-18, let alone meeting the $20 billion target. 

While India may have reported a 6-20 per cent growth in apparel exports to different destinations such as the US, UK, Germany, France and Spain during November-December 2017, overall exports in the sector are down by one per cent for the 10-month period of this year.

Global factors such as free-trade agreements of competing nations with key markets like Europe, the UK and