Export

Indian Textile & Apparel Exports Slip 3.24% In Fiscal 2023-24

Textile Insights April 17, 2024

In fiscal 2023-24, which ends in March 2024, cumulative exports of textiles and apparel from India fell 3.24 percent to $34.43 billion versus $35.58 billion in fiscal 2022-23 Between April 2023 and March 2024, Indian textiles exports registered a year over year growth of 2.62 percent and

Export

Indian Clothing Exports Expected To Rebound In Current Fiscal

Textile Insights April 4, 2024

Indian clothing exports are anticipated to rebound in fiscal 2024-25 at around 8-9 percent led by expected demand from inventory replenishment by brands and retailers in key markets of the US and EU. “After a sluggish fiscal 2023-24 impacted by high inventory levels, apparel exports are expect to touch Rs 28,150 crore in the ongoing […]

Export

Indian Textile & Apparel Exports Drop 7.38% Between April & Feb

Textile Insights March 26, 2024

India’s textile and apparel exports dropped 7.38 percent to US $40.76 billion in the eleven months of fiscal 2023-24 from $44.01 billion in the same period of earlier fiscal. Exports of textiles totaled $30.96 billion in the period between April and February 2024, down 4.2 percent compared to $32.33 billion in the comparable months of […]

Export

India Seeks Zero Tariff On Textiles & Apparel In FTA With EU

Textile Insights February 27, 2024

India is negotiating for textiles and apparels to be classified as non-tariff items in the ongoing negotiations for a free-trade agreement (FTA) with the European Union. The EU import duties, typically ranging between 10-12 percent on textile and clothing, places India at a disadvantage with Bangladesh, which gets duty free access due to its least […]

Export

Swiss Import Duty Abolition Negates India’s Gains From FTA

Textile Insights January 10, 2024

Switzerland which introduced a policy to allow tariff-free entry for all industrial goods from all countries has negated India’s gains from the negotiations for a European Free Trade Association (EFTA) free trade agreement. Switzerland’s decision that took effect from January 1, 2024 resulted in removing tariffs on products, including chemicals, consumer goods, vehicles

Export

India’s Textile & Garment Exports Sluggish Despite FTAs

Textile Insights January 5, 2024

India’s exports from labour-intensive sectors such as textiles, garments, gems and jewellery, and leather have been sluggish despite free trade agreements (FTAs). “The rise of efficient suppliers in China, Vietnam, and Bangladesh has contributed to a decline in India’s market share in global trade,” a recent Global Trade Research Initiative (GTRI) report reveals. The

Export

Indian Textile & Apparel Export Shipments Freight Spikes 40%

Textile Insights December 28, 2023

The attack on merchant ships by Houthi rebel attacks in the Red Sea has spiked freight rates by 40 percent, with expectations of them going up and impacting Indian textile and garment export costs. Red sea is one of the busiest sea routes that connect Asia and Europe, but the attacks have forced ships to […]

Export

India Arrests Downslide In November Garment Exports

Textile Insights December 22, 2023

After a long period of decline due to various global challenges, Indian garment exports increased 11.7 percent, from a year ago month to US $1.2 billion in November 2023. “Exports of garments from India have witnessed a rough patch in the past few months,” Apparel Export Promotion Council (AEPC) Chairman Naren Goenka informed. “This was […]

Export

UK & EU FTA’s Will Be Game Changers: AEPC Chairman

Textile Insights December 13, 2023

The Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka has expressed enthusiasm regarding the proposed free trade agreement with both the United Kingdom and the European Union. “The FTA will be a game changer for the industry,” Goenka said, while emphasising the significant advantages the agreement would offer apparel exporters. Goenka informed that talks

Apparel, Fashion, Retail

Goyal Confident Of Apparel Exports Reaching $40bn By 2030

Textile Insights December 11, 2023

Textiles Minister Piyush Goyal expressed confidence that India’s garment exports would reach the target of US $40 billion by 2030. “$40 billion target by 2030 is clearly achievable,” he added Goyal said the Indian government is taking steps to promote exports such as entering into free trade agreements and promoting brand India. Piyush Goyal was […]