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Textiles continue to gasp for growth with sliding production, low exports

Barring few months, apparel exports are continuously declining since October 2017

textiles, clothes, garments
Share of apparel exports in the country’s total textile exports has fallen sharply from 51% in FY17 to 45% in FY19.

The new government would have to rethink its policy on turning around India’s second-largest job provider, as the textile sector continues to gasp for growth. Three years after key regulatory and labour changes were put in place, India’s textile and apparel exports have declined from $38.60 billion in 2014 to $37.12 billion in 2018 while imports have increased from $5.85 billion to $ 7.31. Particularly hit has been the apparel sector, where the time taken by the industry to adjust to the Goods and Services Tax regime, downward revision of export incentives, and a credit ...