The total exports of textiles and clothing in 2015-16 is estimated to be at $40 billion as against the exports of $41.4 billion in 2014-15 (a decline of 3.4 per cent).
Cotton Textile Export Promotion Council (Texprocil) Chairman R. K. Dalmia has said that even though the textile sector was at the forefront of creating employment in the country, “the cotton textiles business is fast losing its market share worldwide.”
Reacting to a report of the Labour Bureau published recently, Dalmia said in a statement that it#
“Despite being endowed with all the resources, Indian exports have remained stagnant as it has not been able to maximise its competitiveness,” Dalmia said.
With Vietnam's textile and clothing exports growing by 9.14 per cent and Bangladesh by 4.71 per cent during the last year, the preferential trade agreements have been one of the major reasons for decline in India's exports. “While Vietnam and Bangladesh are surging ahead, India seems to be caught in a 'discriminatory tariff' trap, thereby slowing down the momentum of exports,” Dalmia said. (SH)
ALCHEMPro News Desk – India
marketing@alchempro.com
