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India Moves More To Promote Textile And Clothing Exports

2011/9/14 11:04:00 52

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In order to expand India textiles

clothing

Globally

market

The India government introduced several export promotion measures for textiles and clothing in the federal budget of 2011/2012.

In the foreign trade policy plan of 2009~2014 in India, textiles and clothing were listed as the key products plan of the market and the plan for expanding the market key products.

In addition, in order to solve the problem of textile

industry

As the growth rate slowed down, the government of India has classified cotton and cotton yarn exports into the open general license management system, no more quantity restrictions, and the preferential tax rebates for cotton and cotton yarn exports have been restored.

As the second largest industry in India to create jobs,

India

The textile and garment industry provides employment opportunities for about 7 million Indians.

In order to enhance the competitiveness of India's textile and garment industry in the international market, in recent two years, the India government has launched relevant incentive plans, including: the technology renewal fund plan, the comprehensive technology development plan, the comprehensive textile garden plan, the large-scale cluster development plan, the promotion of foreign direct investment plan, the common code of compliance plan, and the participation in international trade fairs and exhibitions according to the marketing development assistance and market access action plan.

The government of India pointed out that the textile industry has considerable potential for development.

India's Federal Minister of textiles Rita Menon made an optimistic prediction. In the financial year 2011/2012, India's textile and clothing exports are expected to reach about 30 billion dollars, an increase of 20% over last year's US $25 billion.

The India government predicts that by 2020, India's share of global textile and clothing trade will increase from 4.5% to 8%, to 80 billion US dollars.

At present, India has a large number of looms, including 1 million 800 thousand looms (45% of the world's total) and 3 million 900 thousand manual looms (85% of the world's total).

In addition, the number of spindles in India ranks second in the world, accounting for 23% of the world's total.

Premal Udani, chairman of India Garment Export Promotion Association (AEPC), said India exporters are optimistic about the export situation of textiles and clothing.

The demand for India products is very good in the US market, and the demand in European market is also improving.

It is understood that since August 2010, India's textile exports to the United States have continued to grow, and the United States accounts for 40% of India's textile and garment export market share.