Composite Fabric,bonded fabric,Lamination Fabric Lamination Fabric News Indian apparel exports expected to reach US$ 100 million

Indian apparel exports expected to reach US$ 100 million



According to the latest report of the credit rating agency ICRA, benefiting from the growth of world apparel trade and the depreciation of the Indian rupee, India’s apparel exports are expected to reach U…

According to the latest report of the credit rating agency ICRA, benefiting from the growth of world apparel trade and the depreciation of the Indian rupee, India’s apparel exports are expected to reach US$18 billion in 2015, an increase of US$1.5 billion over last year. It is expected to reach US$20 billion in 2016.

However, the report also mentioned that the depreciation of the rupee is unlikely to be a sustained driving force for export improvement. Because the rupee has been depreciating in the past three years, the global market share growth of Indian apparel has been very limited.

The report also said that China, Bangladesh and Vietnam have all benefited from the WTO and have significantly increased their share of global apparel trade, but India is an exception.

China is the country with the largest textile production capacity in the world and is also the largest clothing exporter. Although India is a major producer of cotton and man-made fibers and has the world’s second largest spinning and weaving production capacity, its export share is not commensurate.

In 2004, India’s share of the global apparel market was 3%. In 2014, this number increased to 4%. It has grown by only 1% in ten years.

India’s spinning, weaving and garment industries are dominated by small and medium-sized enterprises. They are independent and scattered, and have not formed concentration and scale effects. In addition, high operating expenses, insufficient modernization level, small share of non-cotton clothing and over-reliance on imported equipment are the main factors affecting India’s clothing exports.

However, as economic growth and income levels increase, the scale of clothing exports is expected to grow. According to statistics, India’s domestic clothing market has been growing at a rate of 10% every year in the past five years.

The report pointed out that the Indian government’s early restrictions on the scale of textile and clothing factories and the establishment of investment caps on factories and equipment were the main reasons for the small and scattered Indian textile and clothing industries.

The Technology Upgrading Fund Scheme (TUFS), a flagship project launched by the government to promote the upgrading of the textile industry, has brought tangible benefits to the spinning industry, while downstream industries such as weaving, processing and The garment manufacturing industry has rarely benefited.

In October 2013, the revised TUFS plan gave more financial support to the downstream textile industry and promoted the rapid development of the downstream industry. India’s apparel exports are expected to reach US$20 billion in 2016

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Author: clsrich

 
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