The ongoing political turmoil in Bangladesh has severely impacted the textile industry in Bhilwara, Rajasthan. For years, Bhilwara has relied on Bangladesh as a major market, exporting around 50% of its yarn and denim to the country. The total annual export value of these goods is estimated at
Highlights of the industry recommendations: Removal of import duty from all varieties of cotton Increase the BCD on MMF yarn from the present 5% to 10%. Exempt varieties of textile raw material (fibre and yarn) which are not available domestically from the scope of Quality Control Orders (QCOs) Statutory/regulatory measures to curb cheap imports of […]
Despite unfavorable economic conditions in major markets such as the European Union (EU), the US, and West Asian nations, Indian textile exports grew by 9.59% in May 2024 compared to the previous year, according to a report by the Confederation of Indian Textile Industry (CITI). Additionally, Indian apparel exports saw an increase of 9.84% during […]
Indian exports of textiles and apparel rose marginally by 0.89 percent to US $2.77 billion in April 2024 as against $2.75 billion in the same month of the previous year Of this, textile exports stood at $1.57 billion, up 2.4 percent year on year, while garment exports were down by 1.03 percent to $1.19 billion […]
“The government will focus attention on boosting India’s textile and garment exports, which fell in the previous two fiscals,” Textiles Secretary Rachna Shah said. In fiscal ending March 2024, India’s exports of textiles and clothing dropped 3.24 percent year over year to US $34.4 billion. As against this, overseas shipments of textiles and apparel amounted […]
The Confederation of Indian Textile Industry (CITI) is gearing up for a future that envisions a thriving textile sector till 2047, which also marks ‘New India’s’ fulfillment of aspirations. “The textile industry is crafting an action plan not just for the immediate future but for the long haul till 2047,” CITI Chairman Rakesh Mehra said. […]
The Federation of Indian Export Organisations (FIEO) has urged the government to extend the interest equalisation scheme (IES) that is set to expire on June 30. In a statement, the exporter’s body said that the extension is required to offer a lifeline to small exporters grappling with high interest rates and faltering exports. “The scheme […]
A CEO delegation from the Confederation of Indian Textile Industry (CITI) visited Techtextil 2024 to promote business opportunities with Switzerland arising from the recently signed EFTA agreement. India had recently signed a Trade and Economic Partnership Agreement with the European Free Trade Association (EFTA) countries, which includes Iceland, Liechtenstein, Norway,
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 reached $19.89 billion. However, clothing exports slipped in […]
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 […]