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Apparel and Textile News

Duty Drawbacks on Textile Exports lacks Clarity

The textile industry are unable to book orders due to lack of clarity on the duty drawback rate and Rebate of State Levies (ROSL) on export of garments and made up textile articles, and this could impact India’s textile exports, said P Nataraj, Chairman, the Southern India Mills Association (SIMA). For the textile industry second half of September could be a crucial period as the government is yet to give…
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Apparel and Textile News

Export subsidies to be phased out by 2018

The centre has decided to phase out direct subsidies scheme facilities for textile exporters by December 2018 as per World Trade Organisation (WTO) rules. The WTO rules do not permit least developed and developing countries to give such benefits to its exporters when a sector achieves per cent share in global exports. In the case of textile industry in India, it had crossed the above mentioned threshold in 2010 itself.…
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Apparel and Textile News

New Textile Policy in 3 months

A new textile policy is likely to be finalized in the next three months. The draft for which will be ready once consultations are done with the stakeholders. The new policy is expected to create 35 million additional jobs in the country and achieve 300 billion US Dollar in textile exports by 2024-25. Response and output from foreign players who will participate in the upcoming Textile India 2017 conference to…
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Apparel and Textile News

Textiles Ministry of India Plans to Promote New Textile Markets

Declining textile exports have prompted India to look outside traditional markets and tap the ones being served by competitors such as China. The textiles ministry of India is planning to do roadshows to promote textile exports in the new markets. They used to hold roadshows in the past and wanted to approach new markets through these. They have identified Russia, South America and West Asia to boost exports. The plan…
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Apparel and Textile News

Decline In Textile Exports A Major Concern

The decline in exports of textiles, leather and engineering goods is major concern as these are high-employment intensive sectors of exports, S C Ralhan, president, Federation of Indian Export Organisations (FIEO), said while reacting to the trade data of July 2016. In July 2016, India's exports were valued at billion US dollar (Rs crore) which was per cent lower in dollar terms ( per cent lower in rupee terms) than…
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Apparel and Textile News

Chinese Move Affect Textile Exports

The Indian textile industry is already coping up with lower demands in the global markets. But the move by Chinese government allowing its official currency, Yuan, to decline by about 4 per cent against the US dollar is expected to adverse impact on textile exports from India. The impact of this move by China on textile sector will be that textile imports from China will become cheaper. Hence the buyer…
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