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India: Textiles Ministry revises, lowers export estimate to $45000 million

"As per recent data released by the Union Textiles Ministry, textile and clothing industry has been seen a decline in exports. Exports fell marginally by 0.2 per cent to $36639.4 million (FY 2016-17) over the previous fiscal. In the exports segment, textiles and clothing accounts 13 per cent of the country's total exports in the last fiscal, where in 2015-16 and 2014-15, the sector accounted for 14 per cent and 12 per cent respectively. Presently apparels are ruling the export basket with a 48 per cent stake in the total T&C exports with a growth of 6.6 per cent in 2016-17."

 

 

India Textiles Ministry revises lowers export estimate to 45000 million

 

As per recent data released by the Union Textiles Ministry, textile and clothing industry has been seen a decline in exports. Exports fell marginally by 0.2 per cent to $36639.4 million (FY 2016-17) over the previous fiscal. In the exports segment, textiles and clothing accounts 13 per cent of the country's total exports in the last fiscal, where in 2015-16 and 2014-15, the sector accounted for 14 per cent and 12 per cent respectively. Presently apparels are ruling the export basket with a 48 per cent stake in the total T&C exports with a growth of 6.6 per cent in 2016-17. After seeing this trend, the government has cut down export target to $45000 million for the current fiscal.

India Textiles Ministry revises lowers export estimate

 

Country wise, the US is the largest export market for India. Exports to the US grew 1.1 per cent to $7604.38 million in the last fiscal, accounting for 21 per cent share in India's total T&C exports. Apparel exports to the US totaled $3861.96 million, thereby accounting for 50 per cent share from the total T&C export to the US. Cotton exports to the US decreased by 5.5 per cent to $116.31 million in the last fiscal. Other large export markets are UAE, UK, Bangladesh, Germany, China, Spain, France, Italy and the Netherlands.

Cotton export trends

In FY 16-17, cotton exports registered a decline of 9.2 per cent to $6637.63 million as compared to the previous fiscal FY15-16. Bangladesh has taken up the spot of China by becoming the largest importer of Indian cotton owing to continued low demand from China. Exports to Bangladesh were valued at $1602.53 million with a share of 24 per cent from the total cotton exports, while exports to China closed at $1348.43 million. Though registering decline, Pakistan still managed to retain its third position while cotton exports to Vietnam registered growth of 7.5 per cent to $281.81 million.

Yarn exports

Overall cotton yarn exports witnessed negative growth of 7.15 per cent to $3350.2 million in FY 16-17. Though China was the top importer of Indian cotton yarns, volume reduced 29 per cent to $1048.83 million. If Bangladesh's demand catches up in the future, there are chances of Indian yarn exports registering an upswing again.

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Apparel exports registered 6.6 per cent growth to $17478.97 million in 2016-17. In the apparels, woven apparels led the pack with 53 per cent share. In this section, women/girls suit, jacket, dresses, skirt, blazers etc., were the highest exported products from India, valued at $2422.02 million in the last fiscal. Knitwear apparel exports also registered impressive growth of 7.8 per cent to $8266.95 million in the last fiscal year. UAE took over US as India's leading market for knitwear exports, totaling at $2131.66 million in 2016-17. The other top knitwear export markets are USA, UK, Germany, France, Spain, Italy, Saudi Arab, Netherland and Poland.

Man-made fibres

This segment has been registering negative growth for the past three years. In 2016-17, the MMF exports fell by 3.1 per cent to $ 1995.05 million compared to the previous year. The commodity accounts for 5 per cent share from the total T&C exports of the country. Under MMF section, synthetic filament yarn is the main commodity exported with value of $ 1041.34 million with growth of 10 per cent in the last fiscal. As per the statistics, Turkey is the biggest market for India's MMF exports. India has exported $256.18 million of MMF commodity to Turkey in 2016-17. Brazil, being the second largest model, witnessed 69.8 per cent growth to $201.46 million.

Import scenario

As far as imports are concerned, cotton imports ruled with 19 per cent share from the total T&C imports of the country. The cotton imports have witnessed a growth of 88.8 per cent to $ 1132.09 million in 2016-17. India has imported most of the cotton from USA and Australia. India's imported cotton from US totaled $289.51 million in the last fiscal. China stands at third position in the cotton imports of India, witnessing a negative growth of 4.2 per cent to $124.37 million.

 
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