India's textile exports decline by eight percent

Mumbai, Ta. 22 January 2020, Wednesday

Despite the improvement in exports to the US, the country's textile and apparel exports have declined by 8 percent in the first eight months of the current fiscal year, from April to November. Data show that overall exports have declined due to declines in Europe and West Asia. On the other hand, imports of textile and apparel have increased by 5% during the same period.

According to data compiled by the Directorate General of Commercial Intelligence and Statistics under the Ministry of Commerce and Industry, India's textile and apparel exports increased by $ 1.8 billion to $ 8 billion in the current fiscal compared to the first eight months of the previous fiscal. Was.

Imports, however, increased from $ 1.8 billion to $ 1.8 billion. India's textile exports have been impacted by the US-China trade war, geographical tensions in the Middle East, the Brexit issue, and the elimination of benefits under the Generalized System of Preferences, a Cotton Textile Export Promotion Council official said.

Developing countries under the GSP provide import duty relief in addition to the preference of purchasing apparel and textiles from some nations. India's apple exports to the United States during the April-November period of the current financial year were up 4 percent to $ 8 billion.

Given the delay in declining the scheme of ration of duty or taxis on export products, apparel exports are likely to see a decline of 1 to 5 percent, says Clothing Manufacturers. An official of the India Office said.