Page 2 - Textile Export

Rising output costs hits textile export

WEAK FABRICIndia's overall textiles exports ($ billion)*Calendar year Apparel Textiles2011 13.4 33.02012 12.9 32.52013 14.4 36.22014 16.5 38.12015 17.1 36.72016 17.0 34.9Source: IcraTextile export contracted in calendar year 2016 for a consecutive year, due to weak global demand and India's losing competitiveness.Data from the ministry of textiles shows a five per cent fall to $34.9 billion (Rs 2.3 lakh crore) for calendar 2016, from $36.7 bn in 2015. In September 2016, the central government announced a Rs 6,000-crore package to boost textile export. This was on recommendations from the industry, and a commitment from it to raise annual export to $50 bn and create 100,000 new jobs."Textile demand remained sluggish, following uncertainty in globally economy. And, India has been losing its competitiveness to China, due to almost flat (rise in) cost of production there and depreciation in their currency. In contrast, the cost of production had increased sharply in India over the past ...