Textile exporters are powerless to seize opportunities

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Mumbai, Ta. 10 February 2020, Monday

The outbreak of coronavirus in China has created an opportunity for Indian textile exporters to increase exports, but due to certain limitations, exporters are currently failing to seize the opportunity.

General textile importers from around the world are currently visiting China and ordering orders for the upcoming season. But this year due to the coronavirus, most importers have canceled their visit to China and are in talks with textile exporters from India and other countries.

This is a good opportunity, but India's exporters are saying that it is not enough to convert the inquiries into orders. The reason behind this is textile prices.

Many textile export units in India are stagnating due to lack of accessories. Most of the accessories used in textile come from China. Due to the virus, many textile factories in China have ceased to operate, resulting in the loss of textile and raw material exports from China.

According to a confederation of the Confederation of Indian Textile Industry, the export of finished textile goods, clothing and fabrics is expected to increase by 3 to 5 percent, which is expected to compensate for the decline in exports last year.

But cost and capacity are both challenging at present. India's textile prices are 3-5% higher than Vietnam, Cambodia and Bangladesh and other countries. Most of these countries meet their raw material requirements from China.

"If the Indian government provides immediate relief to textile exporters, there is no denying the possibility of an increase in exports," he said.

Benefits of the Med-Ups and Garments sector under the Merchandise Export Incentive Scheme have been withdrawn recently, and also from the previous date, March 7. Inquiries from importers have begun, but nothing can be said on our existing structure and price front, he added.

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