Indias apparel exports decline 17.78% in March
The Dollar Business Bureau Apparel exports from India has dropped by 17.78% in the month of March this year to $1.49 billion as compared to $1.81 billion in the same month last year, according to the industry body Apparel Export Promotion Council (AEPC). “India’s apparel exports has shown a decline of 17.78% for the month of March 2018 against the corresponding month of March 2017 as per the latest trade data,” AEPC said in a statement. “The Indian readymade garments (RMG) exports were to the tune of $1.49 billion in March this year against the $1.81 billion, in the corresponding month last year,” the statement said. In rupee terms, exports were Rs.9694.68 crore in the given month as against Rs.11946.37 crore in March 2017, ...
Export of Ready-made garments grew 8.06% in May
The Dollar Business Bureau India’s export of ready-made garments registered a positive growth of only 8.06% in the month of May as compared to same month last year. Ready-made garment exports stood at $1605.37 million in May 2017 as compared to $1485.67 million in the same month last year. In terms of rupee, the exports were Rs.10342.55 crore in May this year as against Rs.9940.10 crore in May 2016, registering a growth of 4.05%, Apparel Export Promotion Council (AEPC) said in a release. “The decline in growth is attributed to two reasons. Though the exporters are happy with the new rates announced by the Government under the Goods and Services Tax (GST), they need to ensure compliance with the GST for input credit for the already existing stock on June 30 ...
Reduction in insurance cost for exporters, ECGC
The Dollar Business Bureau In a much-needed relief to the exporters, the Export Credit Guarantee Corporation (ECGC) in its 60th year of operation has taken a customer friendly step by reducing the premium rate by an average of 17% for its whole turnover policy covers. This has reduced the transaction costs for short term business exporters from Rs.28.19 to Rs 25.46 per Rs 100 during FY 2016-17. The premier Export Credit Agency has also initiated several customer friendly steps to boost exports. In its press release on May 31st, the agency has listed out the initiatives taken during FY 2016-17. The agency has taken steps to make Export Factoring Scheme, cheaper for MSMEs. To give a fillip to the Medium & Long Term (MLT) ...
Govt extends export entitlement quota on garments, yarn for 1 yr
The Dollar Business Bureau Government has extended the entitlement quota for one year in the export of readymade garments, knitwear, yarn, fabrics and made-ups to the countries of Canada, US, and European Union. This will be effective from January 1, 2017. “The government hereby decides to extend the operation of the residuary provisions of yarn, fabrics & made-ups export entitlement (quota) policy for a further one year with effect from January 1, 2017,” the Textiles Ministry said in a notification. Likewise, the government has also extended the operations of residuary provisions of export entitlement quota policy of garments and knitwears for another year, which will be effective from January 1, 2017. The export entitlement policy for garments and knitwears is applied for countries where such ...
Another promising year awaits Indias textiles exports
Satyapal Menon | The Dollar Business A craftsman uses a handloom to produce rugs in Jodhpur, India Indian history and tradition is woven around the sheer artistry, and pure genius that goes into the creation of intricate and intrinsic cloth patterns conceived by thousands of weavers across the length and breadth of the country. From the mesmerising valleys of Kashmir to the serene shores of Kanyakumari, and, from the dusty and dry habitats on the Deserts of Rajasthan to the freezing terrain of the Himalayan region, India is linked, and, interlinked by a common thread of omnipresent tradition. Many villages and towns across the country reverberate with the pervasive rhythm of looms weaving out exquisite ensemble of textiles. The textile industry ...
