Textile & clothing exports up

Textile & clothing exports up

Textile & clothing exports up

It has been disclosed in Parliament that exports from the textile and clothing sector increased marginally to $ 39.2 billion in 2017-18 from $ 39 billion in the previous fiscal. However, the country’s imports of textile and apparel increased significantly by 17 per cent from $ 6.3 billion in 2016-17 to $ 7.3 billion in 2017-18.

Making the disclosure, the Minister of State for Textiles, Mr Ajay Tamta, also said that the government has increased Customs duty on different types of fabric, apparel, made-ups and carpets from 10 per cent to 20 per cent to curb textile and apparel imports into the country.

The Minister also projected increased cotton exports. “From October 2017 to April 2018, the total amount of cotton exported from India was 51.21 lakh bales,” he said, adding that the Cotton Advisory Board (CAB) has estimated that during the current cotton season 2017-18, export is likely to increase by 20 per cent over last year and is expected to touch 70 lakh bales by September this year. Domestic prices of cotton are ruling below the international cotton prices, he added.

CAB has estimated cotton production for the current cotton season 2017-18 (October 2017 to September 2018) at 370 lakh bales, he pointed out.

Manjula

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