Textile Sector Dominates Indian Exports

Textile Sector Dominates Indian Exports

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During the last three consecutive years, textile and apparel exports were the dominant contributor to India’s export market. In 2015 $40 billion of the 262.3 billion generated from exports was contributed by this industry alone.

“In order to give boost to the textile industry, Government has introduced special packages for apparel and made-ups sector in June 2016 and December 2016, respectively,” said Ajay Tamta, minister of state, textiles, in a written reply to a Rajya Sabha question.

“The government is also implementing schemes like Amended Technology Upgradation Fund Scheme (ATUFS), Pradhan Mantri Paridhan Rojgar Protsahan Yojna (PMPRPY), Scheme of Rebate of State Levies (RoSL) on export of garments, Schemes for Technical textiles, Scheme for Integrated Textile Parks (SITP), Integrated Skill Development Scheme etc. to modernize textile industry, increase production and global competitiveness,” he added.

He also said that the government has taken a number of initiatives to augment textile exports, which include merchandise export from India Scheme (MEIS) under new Foreign Trade Policy 2015-20, restoring interest rate subvention for pre-and post-shipment credit for the textile sector, expanding the scope of MEIS since 2015 to 110 new tariff lines and increase rates or country coverage or both for 2,228 existing tariff lines, increased duty drawback rates for some textile articles and more.

The exports of textile items during 2016-17 (Apr-Dec) were $26 billion as compared to $27.2 billion during 2015-16 (Apr-Dec), said the minister as a reply to another question.