Indiaâ€™s textile and clothing exports in the 10 month period of April 2014 to January 2015 witnessed growth of almost four percent to $34 billion as per the Union textiles ministry data. This means $41 billion for the year, growth of only 3.8 percent as against the rise of 12.4 percent to $39.3 billion in 2013-14.
Sluggish global demand and declining competitiveness is likely to see less of export in 2014-15 for the textile and clothing (T&C) sector. According to industry sources, it should be five percent.
On a stand-alone basis, though, apparel export is expected to show 10-13 percent growth. However, this would be the lowest in recent years.
In June 2014, Union textiles minister Santosh Gangwar had said that the T&C sector exports in 2014-15 were expected to grow 25 per cent to $50 bn.
According to experts there are several reasons for the subdued growth, also likely in 2015-16 if the current situation persists.
According to the Apparel Export Promotion Council, garment exports will continue to grow at a little over 10 percent, perhaps 10-13 percent.
D K Nair, secretary general of the Confederation of Indian Textile Industry said that there are several export-related incentives the industry has been demanding from the government. For next year to be better, the government will have to take steps to incentivize textile and garment exports further.
K Selvaraju of the South Indian Mills Association is of the view that almost the entire value chain, barring garments are witnessing a lower trend in export growth. For instance, the cotton yarn has an export capability of 140-160 million kg but it is seeing 110-120 mn kg only.
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