Overview of Indian textile exports

by:JIYALI     2021-08-16
For most of 2007-08, Indian merchandise exports, especially textile exports, showed a gradual growth trend. In addition to historical factors, the main factor is that the rupee has appreciated by about 15% against the US dollar since October 2006, and at the same time, the US economy has slowed significantly.  The Indian government has taken short, medium and long-term measures to solve problems for exporters. As a short-term strategy, the Indian government has strengthened the Certificate of Duty Power and Duty (DEPB), increased the tax rebate rate, exempted 12 types of service taxes, lowered the loan interest rate before and after shipment, and accelerated the final consumption tax and central consumption tax debt clearing. As a medium- and long-term strategy, the government has decided to continue to implement technology update funding arrangements, comprehensive textile park arrangements, and cotton technology tasks during the 11th Five-Year Plan period. From a long-term perspective, infrastructure must be improved, labor laws must be reformed, and the textile industry must be in line with world development trends and create new trade directions.  Although facing the difficult world situation, the Indian government is confident to complete the export target set by the national textile policy. In 2007-08, the textile industry's export target is 25 billion U.S. dollars, an increase of 9.4% over 2006-07 (in U.S. dollars). From April to October 2007, exports only increased by 1.49%, but the situation quickly reversed in the second half of the year, and the overall export growth was 9.4%.
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