Smt. Panabaaka Lakshmi, Minister of State for Textiles has informed that however the financial stress of the textile industry has a negative impact on the banking system, as banks have lent fund based credit of Rs. 155809 crores. The textile sector constitutes 8% (at the end of third quarter of financial year 2011) of the total restructured assets across banks. In addition, it constitutes Rs. 11370 crores of the total quantum of loans under the CDR mechanism.
Duty drawback rates are determined by Government every year based on recommendation of the the All India Duty Drawback Committee. The drawback rates of China, Pakistan and Bangladesh are not compiled by Government.
Indian Textiles mills have access to the cheapest cotton in the world. India is relatively cost competitive in terms of material cost for products that use domestically manufactured fabric.
In both Men's cotton Chinos and cotton T-Shirts it has the second lowest material costs per garment when fabric, cotton, trims, labels and packaging material are sourced locally.
For men's Chino's India's material cost per garment is $ 4.119, next only to Pakistan ($4.016) and 7% cheaper than China, 11% cheaper than Bangladesh, and 13% lower than Cambodia. For cotton knit T-shirts, India's material cost per garment ($ 0.87) is 9% lower than China, 10% lower than Bangladesh and Cambodia, and 4% higher than Pakistan.
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