Home Asia How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!

How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!

How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!
How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!

India’s exports of textile and apparel sector (including handicrafts) have increased from USD 39.3 billion in 2017-18 to USD 40.4 billion in 2018-19.

How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!
How Much Is India’s Textile Export Worth? Get 2018-19 Numbers Here!

According to Indian Textile Ministry’s statement, nation’s exports of textile and apparel sector (including handicrafts) have increased from USD 39.3 billion in 2017-18 to USD 40.4 billion in 2018-19.

Union Minister of textiles, Smriti Zubin Irani on 29th November in written reply in the Lok Sabha said, India faces competition from countries like Vietnam, Bangladesh and Sri Lanka which enjoy duty free access to key markets.

Apparel exports from competing countries enjoy zero/preferential access to European Union whereas India faces a duty disadvantage, she said.

Besides Bangladesh and Vietnam have a large and productive labour force, the minister added.

She further said that the Government is implementing the Scheme for Integrated Textile Park (SITP) which provides support for creation of world-class Infrastructure facilities for setting up of textile units, with a Government of India (GoI) grant up to 40% of the project cost subject to a ceiling of Rs. 40 crores.