India’s textile industry grapples with rising fabric imports, reflecting dependence on foreign sources. Government initiatives like the PLI scheme hold promise but face challenges, including underutilized factories, inverted GST structures, and fabric influx, even as apparel exports continue to face severe challenges. IBT looks at the key drivers of the...
India’s cotton production and exports are experiencing decline and continued uncertainty, subsequently casting a shadow on the textile industry as well. On June 10, the Cotton Association of India (CAI) raised the country’s cotton output to 311.18 lac for the year 2022-23. The previous estimates of the trade body had...
India’s handicraft exports size has shrunk in FY 2022-23 with a Y-o-Y decline of 20%. This de-growth is attributed to both international and domestic factors. IBT examines various reasons behind the dip in demand for handmade items and shrinking export size, and possible interventions to revive the sector’s fortunes. Photo...
India’s merchandise exports fell by 8.8% YoY basis in February 2023, taking overall export value to US$ 405.94 billion during April-February. Despite the subdued global economic scenario, India’s services trade surplus surged by 38.6% YoY to reach US$ 132.95 billion during April-February, 2022-23. Source: Shutterstock A downturn in global demand...
India’s cotton textile exports witnessed a 54% YoY growth in FY 22, surpassing the RMG segment. This helped India’s textile exports reach US$ 43.44 billion, recording a 41% YoY growth in the same year. This is attributed to a high pent-up demand worldwide post-COVID and the easing of the supply...
The cotton sector of India is observing a downward trend due to high prices and weakening export demand. In 2022-23 (Apr-October), cotton yarn exports were recorded at US$ 1.39 billion, dropping by 51.45% YoY. Although cotton production in northern parts of India might stay stagnant, it is expected to rise...
As COVID-19 struck, millers have significantly cut on their demand for raw cotton as consumer interest in apparel fell sharply. But since cotton is a breathable fabric and 100% biodegradable, it serves as a good raw material for masks, which are now becoming a necessity. Also, the shocks experienced due this...
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