Indias cotton planting area likely to rise by 15% to a 3yr high as prices increase
The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...
AEPC confident that apparel exports could cross $30 bn in next three years
The Dollar Business Bureau The government’s future-oriented initiatives to modernise the country’s textile sector will help push apparel exports to more than $30 billion in the next three years, industry body AEPC said. Referring to the government’s Rs.6,000 cr special package announced in June for the textiles sector, Apparel Export Promotion Council said this move, along with innovative designs prowess will bring about a paradigm change for the industry. "We have an ambitious target for export and job creation in the next three years. The industry is poised to grow in 2017. I am sure we will not only achieve the $30 billion mark in next three years for apparel exports, but have the potential of exceeding the expectation," AEPC Chairman Ashok Rajani said. India’s apparel ...
Indias apparel exports expected to double by 2023
The Dollar Business Bureau India’s apparel exports are expected to double in the next eight years, increasing at a compounded annual growth rate of 9%, more than the average increase in global trade in the sector, a study said. The total export value will increase from $40 billion in 2013 to $95 billion in 2023, a media report said citing a study by research firm Technopak. The Indian textile and apparel market which was estimated at Rs. 3.20 lakh crore in 2013, is projected to touch Rs. 7.57 lakh crore in the coming eight years, the research said. On the other hand, the global textile and apparel trade is expected to grow at 5% during the period. In 2013, the ...
