In­dia’s tex­tile & ap­parel ex­ports in Novem­ber Sees Slight In­crease Will Gov­ern­ment Able To Cre­ate Jobs Be­fore Elec­tions?

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Based on data pub­lished by Direc­torate Gen­eral of Com­mer­cial In­tel­li­gence and Statis­tics (DGCIS), af­ter a brief pe­riod of de­cline in Tex­tile & Ap­parel (T&A) ex­ports in­clud­ing handicraft ex­ports ev­ery month be­gin­ning May, June, July & Oc­to­ber 2017, it can be ob­served that there is a turn­around in T&A ex­ports, with a 20% in­crease in Novem­ber, 2017 over Oc­to­ber, 2017. The 20% over­all in­crease in T&A ex­ports is marked by an in­crease of 24% in Ready­made Gar­ments, 24% in Cot­ton, 9% in Man Made Tex­tiles, 17% in Silk Prod­ucts, 28% in Hand­loom prod­ucts, 11% in Car­pets and 10% in Jute Prod­ucts.

Af­ter a brief pe­riod of de­cline in tex­tile and ap­parel ex­ports, in­clud­ing handicraft ex­ports, ev­ery month be­gin­ning May, June, July and Oc­to­ber 2017, there is a turn­around in In­dia’s tex­tile and ap­parel ex­ports, in Novem­ber 2017. There has been a spurt in ex­port of hand­loom prod­ucts, ready­made gar­ments, cot­ton, silk and jute prod­ucts, and car­pets.

To soften the im­pact of de­mon­eti­sa­tion and GST, Arun Jait­ley is likely to in­tro­duce new em­ploy­ment and skilling scheme. Though clear-cut poli­cies that would have an im­me­di­ate im­pact on job cre­ation are un­likely, jobs are likely to be a top pri­or­ity af­ter the dis­rup­tions caused by de­mon­eti­sa­tion and GST roll­out. The gov­ern­ment is work­ing on a Na­tional Em­ploy­ment Pol­icy (NEP) and a uni­ver­sal so­cial se­cu­rity scheme, which may be an­nounced in the Bud­get, along with higher al­lo­ca­tion for the MU­DRA scheme for fi­nanc­ing en­trepreneur­ship. Ad­di­tion­ally, a re­newed fo­cus on skill de­vel­op­ment and vo­ca­tional train­ing may also be seen in the Bud­get. The NEP is ex­pected to have a sec­tor-wise fo­cus, es­pe­cially on labour-in­ten­sive sec­tors such as tex­tiles and hand­loom, and other small and medium en­ter­prises. It will likely pro­vide them with in­cen­tives for for­mal em­ploy­ment. Sim­i­larly, the Labour Code on So­cial Se­cu­rity, which is still un­der dis­cus­sion, could also fea­ture in the Bud­get. It aims to pro­vide so­cial se­cu­rity cov­er­age to all work­ers, es­pe­cially those in the in­for­mal sec­tor.

While the Cen­tre has launched poli­cies such as Make in In­dia and Skill In­dia, labour mar­kets have been mostly sub­dued, with pri­vate in­vest­ment re­main­ing muted due to both global and do­mes­tic eco­nomic fac­tors. The An­nual Em­ploy­ment-un­em­ploy­ment Sur­vey, con­ducted by the Labour Bureau, pegged the un­em­ploy­ment rate at 5 per cent in 2015-16 from 4.9 per cent in 2013-14 and 4.7 per cent in 2012-13.

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