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India'S Textile Industry Seems To Be In The Doldrums.

2008/12/5 0:00:00 41

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Last year

rupee

Large scale

appreciation

After that, India

textile industry

It seems that it has plunged into a downturn. The world economic recession has led to a sharp decline in demand in the main markets of the United States, the European Union and Japan, and the export of India's textile industry has been severely damaged.

The dark clouds hanging over the top of the textile industry are becoming increasingly unlucky, and the textile industry is the second largest job creation industry in India, next to agriculture and the second largest export industry, next to the information technology industry.

60% of India's textile output is exported to the United States, the European Union and Japan, and these three markets are flowing.

Capital crisis

。

At present, the export of textile industry is reduced. The government estimates that textile companies may reduce about 500 thousand employees in the next 5 months.

The India Textile Industry Alliance (CITI) claims that about 700 thousand jobs will be cut in the next 6 months.

Even now India

Currency devaluation

In the current fiscal year, the depreciation of the US dollar has exceeded 20%.

CITI pointed out that the global financial crisis has seriously impacted India's clothing exports, and the export volume has been reduced by 30 to thirty five percent from July to September.

Exports to the United States and the European Union account for 60 to 65 percent of the total volume of clothing exports in India.

The group said clothing exports exceeded $9 billion last year, but demand fell sharply this year, and exports were around $7 billion 500 million.

　　印度有 15,000 家紡織公司，出口 205 億美元，占全國出口比重為 17％。紡織工業市場總值 520 億美元，占制造業的 26％，占工業產值的 20％，占工業雇用率的 18％。對出口總收入的貢獻率為 15％，對全國國民總產值的貢獻率為 4％。從業人員大約 3500 萬人。此外，還有 5000 萬人從事相關活動。到 2012年紡織工業市場總值有望達到 1150 億美元。

The government expects textile exports to grow by 15% in 2008-09, but failed to complete the export target set at US $25 billion last year.

From 2007 to 2008, India's textile exports amounted to US $20 billion 500 million, but the target was US $25 billion.

In 2007-08, exports increased by 10% over the previous year.

The export target set by the government in 2012 was US $55 billion.

According to the technology renewal fund arrangement (TUFS), the textile industry will receive 20 billion rupees (US $402 million) in support. Now the textile industry is seeking government emergency intervention to save them from the current crisis.

This year, the government allocated 10 billion 900 million rupees ($219 million) for TUFS.

CITI also asked the government to provide 7% interest on loans for cotton purchases within 9 months, reduce margin and add 20 billion TUFS to the fund.

CITI pointed out that because of the abolition of export incentives by the India government, while other countries, such as China and Pakistan, provided huge export incentives for textile exporters, the competitiveness of India's domestic enterprises gradually weakened.

Last year, when rupee was right.

US dollar appreciation

At that time, the government began to offer low interest loans to textile exporters (interest subsidy scheme), but this plan was cancelled in October this year.