Export

AEPC Drafting New Growth Strategy To Double Apparel Exports

Textile Insights May 9, 2024

The Apparel Export Promotion Council (AEPC) is drafting a new growth strategy to double exports of apparels to US $40 billion by 2030. The new strategy will include targeting new markets like Brazil, Mexico, Poland, Russia, Saudi Arabia and South Africa while also hiking share in traditional

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 […]

Industry

Indian Textile Industry Is Poised For Rebound In Sales – CRISIL

Textile Insights March 29, 2024

The CRISIL SME Tracker has reported that the Indian textile industry is poised for a rebound in sales after two years of contraction. The previous two financial years were challenging due to volatile cotton prices and subdued export demand. “However, the industry is expected to close this fiscal with lower revenue due to a correction […]

Export

Indian Textile & Garment Exports Post 12.49% Growth In Feb

Textile Insights March 22, 2024

Indian exports of textiles and apparels in February 2024 recorded a growth of 12.49 percent over the same month of earlier year. “Of overall exports in February, textile exports rose 19.54 percent, while garment exports grew at 4.88 percent, both over February 2023,” data from Confederation of Indian Textile Industry (CITI) showed. Overseas shipments 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 […]

Industry

AEPC Seeks Uniform GST Levies Across MMF Textile Value Chain

Textile Insights January 25, 2024

To boost local manufacturing and also clothing exports, the Apparel Export Promotion Council (AEPC), has sought uniformity in GST levies and more tax incentives in the union budget to be announced on February. “A uniform tax of five percent should be applied to the Goods and Services tax (GST) along the whole manmade fibre (MMF) […]

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 Garment Exporters Seek Three Year Rebate Extension

Textile Insights December 30, 2023

Apparel Export Promotion Council (AEPC) has sought a three year extension of RoSCTL, a rebate scheme, stating that it has become a dire necessity, given the current global economic uncertainties. In a statement, AEPC Chairman Naren Goenka said market sentiments have touched an all-time low and the traditional markets of the US and EU are […]

Export

India & Oman May Sign Proposed FTA In January 2024

Textile Insights December 30, 2023

In all probability, a Free Trade Agreement (FTA) may be signed between India and Oman in January 2024. “Negotiations are on track and both sides have already agreed on most of the text of the chapters of the Comprehensive Economic Partnership Agreement (CEPA),” CNBC quoted government sources as saying. The second round of talks for […]