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INDIA: Achieving textile export target of USD 40 bn doubtful

India's textiles export target of USD 40 billion by 2009-10 is "highly doubtful" to achieve, as the major exporting destinations the US and the EU is facing slump in demand, global research firm ICRA said. "Achieving the target would require exports to increase at around 34 per cent per annum during 2009-10. Given the slowdown in world economy, achieving this target seems highly doubtful at present," ICRA said in its report on the Indian textile and clothing industry. Textile exports, in the 11th Five Year Plan, was projected to be USD 40 billion by the next fiscal while in the FY'08 shipments have aggregated around USD 22.1 billion. However, estimates show that the exports have started looking up since December, after three months of downslide. According to Apparel Export Promotion Council data, exports in January were USD 972 million against USD 923 million in the year-ago period, while in December 2008, shipments were up by about USD 180 million to USD 871 million. Slowdown in the US and European Union, which account for 60 per cent of the country's textile exports, has caused the sector to see rough times in the form of falling shipments and job loss for seven lakh people. Absence of labour market flexibility, lack of proper infrastructure and administrative glitches, such as custom delays, are other hurdles in achieving the textile export target, ICRA said.


Added: March 18, 2009 Source: Agencies







Highlights of the Foreign Trade Policy

The Hon’ble Union Minister of Commerce & Industry, Government of India, had announced the Foreign Trade Policy on 8th April’05. Some of the Salient Features / Highlights of the proposals pertaining to Textile Industry in general and Handlooms in particular are. >> More


Salient features / Highlights of the Foreign Trade policy


Modern Processing Houses

The Indian Home Textile Industry has access to excellent infrastructure facilities and uses the latest technology and machinery.

Many manufacturers have set up state-of-the-art modern processing houses to roll out large volumes of high quality products to meet the international market demands and expectations. Needless to say that India’s Textile Exports have grown exponentially over the last decade.

Eco- Friendly Dyes: Use of Azo-Free Colours

The manufacturers in India are well aware that AZO free colours and dyes should be used. India has discarded the usage of banned materials in the dyeing process with safe substitutes, to ensure eco-friendliness of the products manufactured by the industry.