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Indian garment exports up 15 per cent

Exports of readymade garments from India in January this year have increased by15 per cent over exports in December 2014 and showed an increase of 9.21 per cent compared to exports in January 2014. India exported ready-made garments worth Rs 9,869 crores in January this year. However, the progress is far from satisfactory considering the staggering strides made by China in the global textile arena. China this year eyes $300 billion exports of textiles and clothing with a growth rate of five per cent. But India’s overall annual exports of readymade garments presently are just $15 billion.

Though global consumption share of apparels made of man-made fibers has been inching to 65 per cent, cotton remains the main raw material for production of readymade garments from prominent clusters like Tirupur, constituting about 85 per cent of the total volume.

India needs to ease controls on import of man-made fibers like polyester and viscose. Pakistan, one of India’s main competitors, extends many sops to import man-made fibers. This helps businessmen there get one kg of polyester at an equivalent of Rs 71 while apparel producers in India have to pay almost Rs 94.

 
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