The Indian apparel exports decline by 40.75 per cent in October 2017 to Rs 5,398.08 crore as compared to exports of Rs 9,110.75 crore in same month last year. This includes garments of all textiles estimated by India’s foreign trade during the month, released by the ministry of commerce and industry.
The Exports of man-made textiles during the month including yarn, fabric, made-ups, etc dropped 8.26 per cent to Rs 2,309.57 crore, as against exports of Rs 2,517.51 crore in October 2016. Contrary, the exports of cotton textiles in the corresponding month of the last year which includes yarn, fabric, made-ups, handloom products, etc rise by 2.21 per cent to Rs 5,369.97 crore over exports of Rs 5,253.96.
The exports of Jute products, including floor covering stood at Rs 150.28 crore in October 2017, registering a rise of 6.29 per cent year-on-year, while carpet exports dropped 33.03 per cent to Rs 667.29 crore.
Overall, the export data for the month of October 2017 valued at Rs 150,325.95 crore as compared to Rs 155,926.73 crore in October 2016, registering a decline of 3.59 per cent. This brings to an end a 13-month run of continuous increase in exports.
“The decline in apparel Exports was expected as exporters particularly MSME were facing liquidity problem to pay GST for 4 months in a row without getting any refund,” Ganesh Kumar Gupta, president, Federation of Indian Export Organisations (FIEO) said.
To prevent further decline in exports it is necessary to take some remedial measures. The measures taken by the GST Council has not been yet effective due to which the challenges faced by the exporters remain same, he added.
Cumulative value of exports for the period April-October 2017-18 was Rs 1097,858.68 crore registering a positive growth of 5.63 per cent over the same period last year. Whereas, Cumulative value of imports for the period April-October 2017-18 was Rs 1653,435.01 crore registering a positive growth of 17.77 per cent over the same period last year.
– Apparel and Textile News, Apparel Talk, Indian Apparel
