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India’s garment exports down 15 per cent

Exports of readymade garments (including those made of cotton, manmade and other fibers) from India in July fell 15 per cent compared to exports in the same month last year.

During the month, exports of manmade fibers, including yarn, fabrics, and made-ups, fell four per cent compared to exports in July 2016. However, exports of cotton textiles increased one per cent.

Imports of all textiles, including cotton and manmade yarn, fabrics and made-ups, rose eight per cent in July 2017 compared to imports in July 2016. Imports of textiles have not increased much after GST.

India has a great chance to capture the market for manmade fibers that’s been vacated by China.

Synthetic textiles made from manmade fibers account for 70 per cent of the world textile supply and the rest is cotton. Given the scale of exports from China, even a one per cent shift means a ten per cent increase in India’s exports of manmade fibers and synthetic textiles.

Cotton still commands more than 50 per cent of India’s textile production. However the synthetic textile segment is gradually growing. The world is shifting toward manmade fibers.

However, there is a need to go in for innovation in fabrics, integrate the value chain and invest in skill development to boost textile exports from the country.

 
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