Export Situation Of India Textile Industry Is Sluggish, Seeking Support From Government And Promoting Exports.

October 16th report, India cotton textiles

The Committee believes that the export situation of India's textile industry is not optimistic, and that it has sought support from the government to boost exports.

The chairman of the committee, R K Dalmia, proposed that, compared with the same period last year, India was 4 to August 2015.

Exports of goods fell by 2.16 percentage points, or only $4 billion 240 million, and the downward trend is likely to continue in the 2016 fiscal year, which is affected by the decline in demand in China and the depression in Europe.

Compared with Vietnam, Bangladesh and Pakistan, the high cost of export credit is also one of the reasons for the current sluggish exports.

He pointed out that the government should further enhance the competitiveness of India's export products, speed up negotiations with the EU, Australia and Canada, and carry out dialogues with China and Turkey to reduce tariffs on India's textile products.

The government of India plans to realize the annual export volume of manufacturing and service industries for us $900 billion in the next five years, and the volume of trade will be doubled from US $1 trillion to US $2 trillion.

Preeti M Sheth, chairman of the India Export Chamber of Commerce, said that the plan would be difficult to achieve in the light of the current global economic situation.