Tex­tile ex­ports dip 4% in FY18 to Rs 2.28 lakh cr

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Ac­cord­ing to data pro­vided by the Con­fed­er­a­tion of In­dian Tex­tile In­dus­try (Citi), of the to­tal com­modi­ties ex­ports from In­dia, the tex­tile and ap­parel ex­ports share has come down by a per­cent­age point to 12% in fis­cal 2018 from 13% in the pre­vi­ous fis­cal. New tax­a­tion regime, in­tense com­pet­i­tive pres­sures in the global mar­ket and un­cer­tainty in the neigh­bour­ing mar­kets, par­tic­u­larly in the Gulf re­gion, have cast a shadow in the ex­ports of tex­tile and ap­parel, which saw a marked de­cline of 4% to Rs 2,27,902 crore in the just ended fis­cal 2018 as com­pared to Rs 2,38,168 crore re­ported in the pre­vi­ous fis­cal. Ac­cord­ing to data pro­vided by the Con­fed­er­a­tion of In­dian Tex­tile In­dus­try (Citi), of the to­tal com­modi­ties ex­ports from In­dia, the tex­tile and ap­parel ex­ports share has come down by a per­cent­age point to 12% in fis­cal 2018 from 13% in the pre­vi­ous fis­cal. While the tex­tile ex­ports de­clined marginally by 1% to end the fis­cal 2018 at Rs 1,20,223 crore as com­pared to Rs 1,21,709 crore, and that of ap­parel ex­ports saw a sharp drop of 8% to Rs 1,07,679 crore as against Rs 1,16,459 crore in the fis­cal 2017, the Citi data said. In March 2018 alone, the ap­parel ex­ports was down 19% to Rs 9,695 crore Rs 11,946 crore in the cor­re­spond­ing pe­riod. Sim­i­larly, ex­ports of cot­ton yarn, fabs, made-ups, hand­loom prod­ucts to­gether de­clined marginally to Rs 65,969 crore as against Rs 66,160 crore in fis­cal 2017. Made-made yarn, fabs, made-ups grew 2% to Rs 31,089 crore (Rs 30,559 crore ear­lier) and that of hand­i­crafts (ex­clud­ing hand­made car­pet) de­clined by 9% to Rs crore in fis­cal 2018 as Rs 12,917 crore in the fis­cal 2017, the Citi data said fur­ther.

In US dol­lar terms, the tex­tile and ap­parel ex­ports for fis­cal 2018 al­most saw a flat growth or 0.4% de­cline to $35.364 bil­lion as com­pared to $35.514 bil­lion in fis­cal 2017. Here too, the tex­tile ex­ports grew 3% to $18.65 bil­lion ($18.146 bil­lion ear­lier) and that of ap­parel ex­ports de­clined by 4% to $16.714 bil­lion ($17.368 bil­lion), the data said. Dur­ing the fis­cal 2018, im­ports of tex­tile yarn, fab­ric, made-ups grew 17% to Rs 11,838 crore (Rs 10,079 crore ear­lier) and in dol­lar terms im­ports grew 22% to $1.836 bil­lion ($1.502 bil­lion).

Some of the rea­sons for de­cline in ex­ports were ow­ing to tran­si­tion to the new tax­a­tion regime and in­tense com­pe­ti­tion from neigh­bour­ing coun­tries such as Bangladesh, Tai­wan, In­done­sia as well lack of FTAS with ma­jor im­porters. Ex­clud­ing the trade with the UAE, In­dia’s ap­parel ex­ports are es­ti­mated to have stood 3-4% higher in the ten months to Fy18, the Icra anal­y­sis pointed out

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