Page 3 - Textile Exports

Textile exports may fall 10-15% in FY18 following paring of tax exemptions

India's textile exports are likely to decline by 10-12 per cent this financial year, says Ashok Rajani, chairman, Apparel Export Promotion Council.He points to less of tax exemptions for exporters, the rupee's rise against the dollar and shifting of orders to competing countries.Readymade garment export declined 41 per cent in October to Rs 5,398 crore ($830 million) from the same month last year. Export of manmade yarn, fabric and made-ups fell 8.3 per cent to Rs 2,310 crore.Overall export of retail and lifestyle products grew at a compound annual rate of 10 per cent from 2012-13 to 2015-16. The government's target for textile and garment sector exports is $45 billion for 2017-18, as against $38.6 bn and $40 bn for 2016-17 and 2015-16, respectively.The decline in export of readymade garments indicates India's failure to raise its global share, despite the world leader, China (42 per cent of global total) ordering the shutting of many textile units on environment concerns. Exporters ..

Exempt merchant exporters from IGST: Textiles Export Promotion Council

The Cotton Textiles Export Promotion Council (Texprocil) has urged the government to exempt merchant exporters from charging integrated goods and services tax (IGST) to make India's textiles exports cost competitive in overseas markets.While welcoming the government's decision to reduce GST levy on job work to 5 per cent now from 18 per cent earlier, Ujwal Lahoti, Chairman of Texporicil, said, "Merchant exporters cannot benefit from the facility of exports under bond / LUT (Letter of Undertaking)". There is no enabling document prescribed so far by the government under which goods can be cleared by a manufacturer without charging IGST meant for exports by a merchant exporter against bond/LUT. In absence of such a provision, therefore, the manufacturer charges IGST on the goods supplied to the merchant exporter meant for exports under Bond/LUT. In the erstwhile central excise regime, there was a facility under which a merchant exporter who has executed a bond (B-1 bond) was provided ...

Textile exports slump 4.5% to $26 bn in April-December

Total production of man-made fibre stood at 1,037 mn kg while spun yarn production was 4,254 mn kg

$48 bn textile exports target looks hard to achieve: Govt

The overall exports of textiles and garments from India during 2015-16 was $40 billion, falling way short of the $47.5 billion target

Brexit, weak global demand hurt pre-Christmas exports

Hundreds of textile and leather exporters, which supply to top global retail chains, are grappling with weak order books

In two years, India loses 37 textile products' markets in EU to Pakistan

Pakistan's inclusion in EU's preferential sourcing list exempts exports from that country from duties

Interest subvention to boost textile sector

Ministry proposes lower interest rates on working capital to pull up falling exports