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India Textile And Clothing Will Not Be Able To Achieve Export Targets Of 330&Nbsp Billion US Dollars This Year.

2011/10/24 9:56:00 30

India government set up in the current financial year

Textile and clothing

The export target is US $33 billion, but textile and clothing.

Exit

This goal may not be achieved. Despite the weakness of the rupee, the export policy also announced export incentives, as the largest buyer's markets in the United States and Europe appear.

financial crisis

This has led to a downturn in demand, and textile mills are worried that it will be difficult to pass on huge raw material costs to consumers.

Nair, Secretary General of India Textile Industry Federation, said that India is the second largest exporter of textile and clothing in the world, but exports in 2011-12 may be less than US $30 billion.

India's exports of textiles and clothing amounted to US $28 billion in 2010-11. The government expects exports to increase in the current fiscal year, as demand seems to be restored after the global financial crisis in 2008.

The United States and the European Union are the most heavily affected countries in the debt crisis. The United States and the European Union account for about 65% of India's textile exports.

Although the government has not released the complete data on textile and clothing exports, so far, according to the Ministry of commerce data, the export of textile yarn and fabric increased by 22.5% to 3 billion 400 million US dollars in the current financial year -9 months, while the ready-made clothing exports increased by 32% to 6 billion 800 million dollars, Nair said, because of the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States and the United States.

EU debt crisis

The adverse effects will get worse.

The textile industry accounts for about 14% of industrial production, accounting for more than 10% of the total export volume.

Employment is second only to agriculture and employs about 3500 people.

Nair said that because of the fluctuation of cotton prices, the textile mill lost 65 billion rupees.

Before September, the textile mill acquired cotton at an average price of 57000 rupees / candy (356 kg) as production inventory.

Since then, demand has slowed, and their stocks are enough to support December.

Cotton prices also plummeted, and textile mills lost about 20000 rupees per CANDY cotton.

Because the government has restricted the export of cotton yarn in 2010-11 years, the textile mill has lost 45 billion rupees, and the output of cotton in 2010-11 years is far greater than domestic consumption.