Indian handloom industry in dire straits as production, exports decline
Jayashankar Menon | @TheDollarBiz The government says that India’s total textile exports managed to recover to around $39.3 billion in FY2013-14, which is up about 12.5% from the previous year and a significant increase from the 5.32% decline seen in the previous year. The government expects textile exports to grow again to $45 billion in FY2014-15, a jump of around 14.5%. However, it’s not all rosy for the handloom sector which continues to be entangled in a knotty situation. According to the Ministry of Textiles, handloom production is expected to decline 4% to around 1,116 million sq. m. in FY2014-15, compared to increases seen in all other sectors: mill (6%), powerloom (3%), and hosiery (7%). Meanwhile, the share ...
